The Vatican has approved Catholic-based Mercy Health System in Portland, Maine, to sell its assets to Eastern Maine Healthcare Systems based in Bangor, according to a report by The Forecaster.
Transactions & Valuation Issues
The University of Michigan Health System, based in Ann Arbor, announced it has signed an affiliation agreement with Midland, Mich.-based MidMichigan Health, granting UMHS a minority ownership interest in MidMichigan in exchange for limited branding rights.
So far in 2013, the rate of mergers, acquisitions and general transactions in the hospital industry has continued where the previous half-decade left off. However, yesterday's announcement that Dallas-based Tenet Healthcare Corp. will purchase Nashville, Tenn.-based Vanguard Health Systems is…
Whispers have surfaced that Eastern Connecticut Health Network, a two-hospital system based in Manchester, may sell its assets to one of two for-profit hospital operators, according to a Hartford Business Journal report.
The following hospital mergers, acquisitions and general transaction news took place within the past week, beginning with the most recent.
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Dallas-based for-profit hospital giant Tenet Healthcare Corp. announced it has signed a definitive agreement to acquire private-equity backed Vanguard Health Systems, based in Nashville, Tenn., for $21 per share, a $4.3 billion all-cash transaction.
Somerset Medical Center in Somerville, N.J., announced it has entered merger discussions with the New Brunswick, N.J.-based Robert Wood Johnson University Hospital.
Lewistown (Pa.) Hospital and Danville, Pa.-based Geisinger Health System announced they have signed a definitive agreement to merge.
Elyria, Ohio-based EMH Healthcare may soon merge with Cleveland-based University Hospitals, as the two health systems signed a letter of intent to integrate.
Bell Hospital, a 25-bed critical access hospital based in Ishpeming, Mich., has signed a definitive agreement to be acquired by Brentwood, Tenn.-based LifePoint Hospitals.