The University of Iowa Health system made a final bid of $28 million in its ultimately unsuccessful attempt at buying bankrupt Mercy Iowa City hospital, according to an Oct. 16 report in The Gazette.
Transactions & Valuation Issues
Pueblo, Colo.-based Parkview Health System has until Jan. 24 to come to a merger agreement with Aurora, Colo.-based UCHealth before any such deal could fall apart, according to an Oct. 16 filing.
Duluth, Minn.-based St. Luke's and Wausau, Wis.-based Aspirus Health have signed a definitive agreement to form a 19-hospital system with more than 130 outpatient locations and 14,000 employees.
Christus Health has bought the 50% of Santa Fe, N.M.-based St. Vincent Regional Medical Center it didn't already own.
More than one-third of hospital and health system transactions announced in the third quarter involved an entity that cited financial distress as a driving factor, according to a Kaufman Hall M&A report published Oct. 12.
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Private equity (PE) investment in healthcare is soaring, as investors have raised large amounts of capital and see attractive opportunities in the industry — especially health services.
More than a dozen hospital mergers, acquisitions, joint ventures, affiliations and partnerships were unwound or called off throughout the past 21 months.
Morgantown, W.Va.-based Monongalia Health System is one step closer to completely absorbing Davis Health System after the two parties signed a definitive agreement to merge Oct. 11 following regulatory and other approvals.
Little Rock, Ark.-based Baptist Health has reached a definitive agreement to add Monticello, Ark.-based Drew Memorial Health System to its enterprise.
El Segundo, Calif.-based Pipeline Health is now a four-hospital system — all of which are in the Los Angeles area —- after it completed the sale of White Rock Medical Center in Dallas to Heights Healthcare of Texas.