Prime Healthcare Services in Ontario, Calif., has acquired Roxborough Memorial Hospital in Philadelphia, according to a Prime Healthcare news release.
Transactions & Valuation Issues
Monterey County officials have contacted Salinas (Calif.) Valley Memorial Hospital expressing interest in a partnership, according to a Monterrey County Herald report.
Wichita County Commissioners have approved the sale of the old Wichita General Hospital property in Wichita Falls, Texas, for $2.5 million, according to a Times Record News report.
University Hospital in Louisville, Ky., has attracted interest from KentuckyOne Health — the newly merged system that UH unsuccessfully tried to join just a few months ago, according to a Courier Journal report.
In the last three years, there have been roughly 20 hospital transactions in which a Catholic-sponsored facility joined with smaller, secular organizations, according to a New York Times report.
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The Commonwealth Medical College in Scranton, Pa., and the University of Scranton (Pa.) are continuing discussions about a possible affiliation, according a joint statement by the organizations.
Far Rockaway, N.Y.-based Peninsula Hospital is working with the official committee of its unsecured creditors to file a joint reorganization plan by this week, according to a Deal Pipeline report.
Officials from the U.S. Department of Justice are reviewing Pittsburgh-based Highmark's proposed $475 million acquisition of West Penn Allegheny Health System to determine if it would violate antitrust laws, according to a Pittsburgh Tribune-Review report.
The newly combined health system of Resurrection Health Care Corp. in Chicago, and Provena Health in Mokena, Ill., has been named Presence Health, according to a Provena and Resurrection news release.
A new PricewaterhouseCoopers report shares problems associated with hospital mergers and acquisitions, saying consolidation doesn't make good business sense for everyone and that the healthcare industry is "littered with deals gone bad."