Moody's Investor Services has released a report, "New Forces Driving Rise in Not-for-Profit Hospital Consolidation," citing new forces behind non-profit hospital consolidations.
Transactions & Valuation Issues
The Florida House and Senate passed a bill yesterday that would increase state scrutiny of public hospital transactions, according to News-Press report.
In a move the University of Pittsburgh Medical Center called "punitive and hostile," insurer and soon-to-be rival provider Highmark has decided to drop a UPMC-affiliated urgent care facility from its network, according to a Pittsburgh Tribune-Review report.
Butler (Pa.) Health System and Ellwood City (Pa.) Hospital have announced a five-year management agreement, effective July 1.
Marquette General in Marquette Township, Mich., and Duke LifePoint Healthcare in Brentwood, Tenn., have announced the signing of a memorandum of agreement toward a DukeLifePoint acquisition.
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Hackensack (N.J.) University Medical Center and the North Shore-Long Island Jewish Health System in Great Neck, N.Y., have announced an agreement to establish a strategic alliance.
The following hospital mergers and acquisitions took place within the past week, beginning with the most recent.
Monterey County officials and trustees of Natividad Medical Center in Salinas, Calif., have agreed to pursue a merger between Natividad and Salinas (Calif.) Valley Memorial Hospital, according to a Contra Costa Times report.
The Pennsylvania Insurance Department has scheduled a public hearing for the reorganization of health insurer Highmark for April 17, according to a Pittsburgh Business Times report.
San Antonio-based University Health System has formally ended discussions with Irving, Texas-based Christus Health about building a freestanding children's hospital, according to a San Antonio Business Journal report.