North Philadelphia Health System, which filed for Chapter 11 bankruptcy Dec. 30, has inked a deal to sell St. Joseph's Hospital in Philadelphia, which closed in March 2016, according to a motion filed in bankruptcy court Monday.
Transactions & Valuation Issues
Stonewall Jackson Memorial Hospital CEO Avah Stalnaker said the potential merger between Morgantown, W.Va.-based Mon Health System and Weston, W.Va.-based Stonewall Jackson Memorial Hospital will benefit the community in a variety of ways.
Roughly five months after it cut ties with Toledo, Ohio-based ProMedica Health System, Maumee, Ohio-based St. Luke's Hospital President Dan Wakeman said the hospital's transition into an independent entity has been "hectic but fruitful," according to The Blade.
The following healthcare mergers, acquisitions and general partnerships took place or were announced in the past week.
Travel Nurse across America, a healthcare staffing agency, acquired industry competitor Trinity Healthcare Staffing Group in January.
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Bloomfield, Conn.-based Cigna is poised to gain a $1.85 billion breakup fee after a U.S. District Court decided to block Anthem's proposed $54 billion acquisition of Cigna, according to The New York Times.
Sellersville, Pa.-based Grand View Health, along with CMS and several local primary care offices will collaborate on an integrated delivery network to provide coordinated, high quality care at lower costs, according to The Intelligencer.
Pittsburgh-based Highmark Health plans to invest $115 million into Erie, Pa.-based Saint Vincent Hospital, according to the Pittsburgh Business Journal.
U.S. District Judge Amy Berman Jackson ruled in favor of the Justice Department and stopped Indianapolis-based Anthem's proposed $54 billion acquisition of Bloomfield, Conn.-based Cigna Wednesday.
Humana's decision to lay off roughly 500 employees struck a chord with Becker's Hospital Review payer issues readers this week.