Hospital M&A moves in the final week of April included a pair of deals in New England.
Here are three hospital M&A moves Becker’s reported during the week of April 27:
1. Rapid City (S.D.) Medical Center joined Monument Health, a Rapid City-based community health system, on May 1.
The move comes after the parties signed a letter of intent in January for RCMC to join the five-hospital system.
RCMC patients will continue to see the same providers, supported by expanded resources and services.
2. Farmington, Conn.-based UConn Health signed a letter of intent with Putnam, Conn.-based Day Kimball Hospital and Bristol (Conn.) Health for the two parties to join the health system.
Bristol Health leaders said the next step is for the parties to develop a definitive agreement, which will “take some time.”
The news comes after UConn Health acquired Waterbury (Conn.) Hospital from bankrupt Los Angeles-based Prospect Medical Holdings March 1.
3. Springfield, Mass.-based Baystate Health signed a definitive agreement to acquire Springfield-based Mercy Medical Center from Hartford, Conn. -based Trinity Health of New England.
Pending regulatory approval, Baystate will acquire the 182-bed hospital as well as Mercy’s joint ventures and affiliated medical groups.
Mercy has faced significant financial pressures that threaten its long-term viability, according to the release. Despite efforts to improve its position, sustainability remained at risk due to inadequate reimbursement, declining payment rates, a shift toward outpatient care and ongoing staffing shortages.
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