The Rhode Island department of health has conditionally approved the application for Los Angeles-based Prospect Medical Holdings to sell its two safety net state hospitals to The Centurion Foundation, according to a June 20 news release shared with Becker's.
Transactions & Valuation Issues
Allentown, Pa.-based Lehigh Valley Health Network is planning to sell and then lease back several outpatient facilities primarily to fund two hospital projects, The Morning Call reported June 20.
Winston-Salem, N.C.-based Novant Health scrapped its planned acquisition of two hospitals from Franklin, Tenn.-based Community Health Systems after an appellate court granted the Federal Trade Commission an emergency injunction blocking the deal.
Los Angeles-based Prospect Medical Holdings has received conditional approval from Rhode Island Attorney General Peter Neronha, after a lengthy review, to sell its two safety net hospitals to The Centurion Foundation.
Franklin, Tenn.-based Community Health Systems said it is "evaluating the current operations" at its two North Carolina hospitals after a deal to sell the hospitals to Winston-Salem, N.C.-based Novant Health was called off amid Federal Trade Commission scrutiny.
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Winston-Salem, N.C.-based Novant Health has called off its planned $320 million acquisition of two North Carolina hospitals from Community Health Systems after an appellate court granted the Federal Trade Commission an emergency injunction blocking the deal.
Financially stronger health systems are hesitant about acquiring weaker hospitals or systems, an M&A trend that is expected to continue as organizations continue financial turnarounds and work to steadily improve their operating margins after a financially challenging period, according to…
Coos Bay, Ore.-based Bay Area Hospital is making progress on its financial turnaround and is exploring potential opportunities to partner with or become part of a larger health system.
The University of Minnesota and Fairview Health Services, both based in Minneapolis, are working through new agreements to bring facilities shared between the two parties under the University of Minnesota's wing.
The first quarter of 2024 marked the strongest merger and acquisition activity among hospitals and health systems since 2020. For-profit systems, in particular, are making a lot of moves in the hospital market and Dallas-based Steward Health Care recently received…