Oakland, Calif.-based Kasier Permanente's takeover of Honolulu-based Hawaii Health Systems will be pushed back to July 2017 after negotiations between the state and unions stalled, according to the Tribune-Herald.
Transactions & Valuation Issues
Walgreens is partnering with St. Paul, Minn.-based Prime Therapeutics, a pharmacy benefit manager owned by 14 Blue Cross and Blue Shield health plans.
Dublin, Ohio-based Cardinal Health bought Iowa City, Iowa-based TelePharm, a four-year-old startup working to establish telepharmacies in rural Iowa, The Des Moines Register reported.
Holding company Providence Service Corp. has signed an agreement with an affiliate of Frazier Healthcare Partners, a private equity firm based in Seattle, by which Frazier will own a majority stake in Matrix Medical Network.
The closing of Los Angeles-based Prospect Medical Holding's $105 million acquisition of Manchester-based nonprofit Eastern Connecticut Health Network will be postponed until Oct. 1 as talks over municipal property-tax abatements continue, according to the Journal-Enquirer.
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The Southwest Virginia Health Authority approved the merger application set forth by Johnson City, Tenn.-based Mountain States Health Alliance and Kingsport, Tenn.-based Wellmont Health System, according to the Bristol Hearld-Courtier.
Birmingham, Ala.-based HealthSouth and Georgetown, S.C.-based Tidelands Health have partnered in a joint venture to own and operate Tideland's existing 29-bed inpatient rehabilitation hospital at its Murrells Inlet, S.C.-based Tidelands Waccamaw Community Hospital.
The following healthcare mergers, acquisitions and general partnerships took place or were announced in the past week.
San Diego-based Scripps Health and Houston-based The University of Texas MD Anderson Cancer Center are partnering to create the Scripps MD Anderson Cancer Center, a comprehensive and clinically integrated cancer program in San Diego, effective immediately.
Several market forces are driving the need to evaluate how hospitals – especially independent community hospitals – will continue to provide high-quality care in an increasingly challenging environment.