Transactions & Valuation Issues

The following hospital mergers and acquisitions took place within the past week, beginning with the most recent.

UPMC Hamot in Erie, Pa., has signed a letter of intent to enter a strategic affiliation with Dunkirk-based Lake Erie Regional Health System of New York.

Backus Corp. in Norwich, Conn., parent of Backus Healthcare System, and Hartford (Conn.) HealthCare have signed a memorandum of understanding to move forward with their proposed affiliation.

The Southeast Volusia Hospital District, which oversees Bert Fish Medical Center in New Smyrna Beach, Fla., is seeking a new law firm to help it identify a new partner for a merger, according to a Daytona Beach News-Journal report.

Rochester, Minn.-based Mayo Clinic has expanded its network of local hospitals and systems, adding Heartland Health in St. Joseph, Mo., to its year-old Mayo Clinic Care Network.

Two Chicago hospitals, Sinai Health System and Holy Cross Hospital, are in talks to affiliate, according to a Crain's Chicago Business report.

Rhode Island Health Director Michael Fine has approved the merger of Landmark Medical Center in Woonsocket, R.I., with Boston-based Steward Healthcare System, according to a Providence Journal report.

Raleigh, N.C.-based WakeMed Health & Hospitals has withdrawn its hostile $750 million bid to takeover Rex Healthcare, also based in Raleigh, from state-owned University of North Carolina Health Care System, based in Chapel Hill, according to a Times-News report.

Caldwell Memorial Hospital in Lenoir, N.C., is considering a strategic partnership with another healthcare system, according to a Charlotte Observer report.

Denver-based DaVita, which provides services to patients with chronic kidney disease, has agreed to acquire Torrance, Calif.-based HealthCare Partners for $4.42 billion.