The first quarter of the year marks the strongest merger and acquisition activity among hospitals and health systems since 2020, according to analysis from Kaufman Hall.
Transactions & Valuation Issues
West Reading, Pa.-based Tower Health has partnered with Cincinnati-based Ensemble Health Partners to manage the health system's revenue cycle operations.
Members from the Washington County (Pa.) legislative delegation have called on Gov. Josh Shapiro to work with the state Attorney General Michelle Henry to help complete the affiliation between Pittsburgh-based UPMC and Washington (Pa.) Health System.
Ontario, Calif.-based Prime Healthcare has completed a $350 million acquisition of five facilities in California and New Jersey from Medical Properties Trust, one of the world's largest hospital real estate owners.
Kansas City-based University of Kansas Health System and Manhattan-based Kansas State University have partnered to focus on rural healthcare through the K-State 105 initiative.
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Seven California hospitals that were owned by two of the largest for-profit health systems in the U.S. are now in the hands of nonprofit systems.
The Queen's Health System in Honolulu has purchased Wahiawa (Hawaii) General Hospital.
As the financial challenges for hospitals mount, big systems have become sellers.
The number of hospital and health systems mergers and acquisitions announced in the first quarter was substantially higher than the same period in 2023, according to an April 1 report by Cain Brothers, a division of Key Banc Capital Markets.
Renton, Wash.-based Providence and RadNet, an outpatient diagnostic imaging services provider, have established a joint venture called Tri Valley Imaging Group.