In the first quarter of this year, there were 23 hospital mergers and acquisitions, a 9.5 percent increase compared to the 21 deals announced in the first quarter of 2013.
Transactions & Valuation Issues
North Shore-LIJ Health System in Great Neck, N.Y., and Phelps Memorial Hospital Center in Sleepy Hollow, N.Y., have ratified a letter of intent that would bring Phelps into the North Shore-LIJ network.
A bankruptcy court has green-lighted Oceanside, N.Y.-based South Nassau Communities Hospital's move to acquire nearly all assets of Long Beach (N.Y.) Medical Center.
The following hospital mergers, acquisitions and general transactions took place within the past week, beginning with the most recent.
Ochsner Health System, one of Louisiana's largest health systems, based in New Orleans, and St. Tammany Parish Hospital in Covington, La., have signed a letter of intent to affiliate.
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Centura Health in Englewood, Colo., and Middle Park Medical Center in Kremmling, Colo., have signed a management agreement.
The hospital sector saw merger and acquisition deal volume decline 21.5 percent year-over-year to 84 acquisitions in 2013, according to a report from Irving Levin Associates.
Reed Martin, COO of Surgical Management Professionals, shares his insight on the future of ASC transactions and valuation here.
Hackensack (N.J.) University Medical Center and LHP Hospital Group in Plano, Texas, have sold the land and buildings of their joint venture hospital in Montclair, N.J., in a sale-leaseback transaction.
Lawrence (Mass.) General Hospital, a 189-bed independent community hospital, has expanded its clinical affiliation with Beth Israel Deaconess Medical Center in Boston.