Transactions & Valuation Issues

Detroit Medical Center, which is owned by Dallas-based Tenet Healthcare, entered into a definitive agreement to sell its outpatient and retail pharmacy business to Deerfield, Ill.-based Walgreens as part of its pharmacy reorganization plan, according to Crain's Detroit Business.

Irvine, Calif.-based St. Joseph Health will continue to operate Petaluma (Calif.) Valley Hospital until January 2020, Petaluma Health Care District officials confirmed May 16, according to the North Bay Business Journal.

Four of the largest for-profit hospital operators have each entered into several transactions this year. Some of the companies are selling off facilities to strengthen their hospital portfolios, while others are exploring ways to expand their reach.

In April, a federal judge denied Blue Cross & Blue Shield of Rhode Island's motion for summary judgment in an antitrust suit filed by Boston-based Steward Health Care. Last week, the judge denied the insurer's request to immediately appeal the…

The city of Massillon, Ohio, completed its purchase of Massillon-based Affinity Medical Center — which closed earlier this year — and its related assets, according to CantonRep.com.

Oak Lawn, Ill.-based Advocate Children's Hospital and Evanston, Ill.-based NorthShore University HealthSystem announced their intent to form a strategic partnership to expand pediatric care statewide May 16.

Boston-based Massachusetts General Hospital, Dover, N.H.-based Wentworth-Douglass Hospital and Exeter (N.H.) Health Resources signed a letter of intent to develop a regional healthcare network for the Seacoast Region, Partners HealthCare announced May 15.

Ongoing financial struggles and debt have led the Palm Drive Health Care District to issue a request for proposals for the sale of Sebastopol, Calif.-based Sonoma West Medical Center, according to The Press Democrat.

Approximately $1.7 trillion worth of deals have been announced globally so far this year — one of the strongest starts to the year since before the 2008 financial crisis. However, while experts have noted consumers are often negatively affected by…

Heritage Valley Health System, a two-hospital system in Beaver, Pa., announced its intent to affiliate with Kennedy Township, Pa.-based Ohio Valley Hospital May 14.