The year is coming to a close, but not without one last flurry of healthcare mergers and acquisition news, including two major announcements made Dec. 19.
Transactions & Valuation Issues
After years of collaboration, Rady Children's Hospital-San Diego and Orange, Calif.-based Children's Hospital of Orange County plan to merge and form a single parent entity called Rady Children's Health.
Milford (Mass.) Regional Medical Center and Worcester-based UMass Memorial Health are aiming to have their new affiliation completed by fall 2024, Milford Daily News reported Dec. 18.
The number of hospital mergers, acquisitions, joint ventures, affiliations or partnerships that were unwound or abandoned in 2023 sits in the double digits.
Milwaukee-based Froedtert and Neenah, Wis.-based ThedaCare have finalized their merger agreement and will launch as a combined 18-hospital system Jan. 1.
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Pennsylvania health systems Jefferson and Lehigh Valley Health Network have signed a non-binding letter of intent to combine.
The Centurion Foundation's plan to buy CharterCare Health Partners from Los Angeles-based Prospect Medical Holdings, a 16-hospital system, is now being reviewed by the Rhode Island attorney general and state department of health.
Ontario, Calif.-based Prime Healthcare on Dec. 11 completed the $200 million sale of Alvarado Hospital Medical Center to UC San Diego Health.
Missouri and Kansas lawmakers are expressing concerns about a proposed partnership between University of Kansas Health System in Kansas City (Kan.) and Liberty (Mo.) Hospital, the Kansas Reflector reported Dec. 11.
Illinois is gearing up to increase its oversight of proposed healthcare facility mergers and acquisitions.