Transactions & Valuation Issues

Mission Health System in Asheville, N.C., and Transylvania Regional Hospital in Brevard, N.C., have approved a memorandum of understanding, putting them one step closer to finalizing the terms of an affiliation agreement, according to a report in The Asheville Citizen-Times.

Memorial Healthcare System has signed an affiliation deal with Florida International University's Herbert Wertheim College of Medicine and also with Florida Atlantic University, according to a Memorial Healthcare news release.

Eight-hospital Detroit Medical Center has extended its letter of intent with Vanguard Health Systems until June 11, extending by 10 days DMC's final decision on the proposed $1.5 billion buyout, according to a report by Crain's Detroit Business.

Tenet Healthcare Corp. is the latest company to offer a bid for Healthscope, Australia's second-largest hospital operator, according to a report by Bloomberg.

Bert Fish Medical Center in New Smyrna Beach, Fla., has agreed to merge with Adventist Health System despite a late challenge from Halifax Health, a public health system based in Port Orange, Fla., according to the Daytona Beach News-Journal.

St. Luke's Hospital in Maumee, Ohio, has agreed to join ProMedica Health System later this summer, according to a press release.

Connecticut's Office of Health Care Access has given a green light to an affiliation between Hartford Hospital and the Hospital of Central Connecticut, according to a report in the Hartford Courant.

Palm Drive Hospital in Sebastopol, Calif., exited bankruptcy on Wednesday with the sale of $11 million in bonds to pay off creditors and plan improvements, according to a report by the Santa Rosa Press Democrat.

A for-profit company was recently blocked from bidding on a struggling not-for-profit Rhode Island hospital while a bid from a Catholic system was allowed to proceed, according to a report by the Boston Herald.

TPG, owner of Surgical Care Affiliates, and the Carlyle Group, have mounted a $1.74 billion offer to take over Healthscope, an Australian company that operates private hospitals and a pathology business, according to a report in The Australian.