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.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
