The following healthcare mergers, acquisitions and general transactions took place or were announced within the past week.
Transactions & Valuation Issues
Iowa City, Iowa-based University of Iowa Hospitals and Clinics will purchase business assets from the Iowa City Heart Center for $1.2 million, according to an Iowa City Press-Citizen report.
Jeffersonville, Ind.-based Clark Memorial Hospital, Louisville, Ky.-based Norton Healthcare and Brentwood, Tenn.-based LifePoint Hospitals are discussing a potential regional partnership, according to a report by The Courier-Journal.
Pfizer, a multinational pharmaceutical corporation headquartered in New York City, will acquire Hospira, a Lake Forest, Ill.-based global pharmaceutical and medical device company, for $90 a share in cash for a total enterprise value of about $17 billion.
Although the battle has gone back and forth between Highmark and Pittsburgh-based UPMC, it was health insurer Aetna that came out of the fight on top, according to a TribLive report.
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Tenet Healthcare, a for-profit hospital operator based in Dallas, and Connecticut Gov. Dannel Malloy have announced the negotiations over Tenet purchasing five nonprofit hospitals in the state are over, according to a Hartford Courant report.
Cardinal Hill Rehabilitation Hospital in Lexington, Ky., has been sold to Birmingham, Ala.-based HealthSouth, an inpatient rehabilitation hospital operator, according to a WKYT report.
Horizon Blue Cross Blue Shield of New Jersey has announced Christ Hospital in Jersey City, N.J., has terminated its contract with the insurer.
North Shore-Long Island Jewish Health System, a 19-hosptial system based in Manhasset, N.Y., and Maimonides Medical Center, a tertiary care teaching hospital in Brooklyn, N.Y., have signed a memorandum of understanding to engage in exclusive partnership negotiations.
St. Vincent Hospital, a 135-year-old facility based in Leadville, Colo., may be able to avoid its impending closure through a deal with Englewood, Colo.-based Centura Health, according to The Denver Post.