Erlanger Health signed a non-binding letter of intent to join Prisma Health, and AdventHealth and Intermountain Health are seeking to form a joint venture combining their greater Denver-area hospitals. Here are five hospital M&A moves Becker’s reported during the week of July 20:
1. Brentwood, Tenn.-based Surgery Partners entered into an agreement to sell its ownership interests in two Idaho hospitals to Salt Lake City-based Intermountain Health, which is an existing partner in the facilities.
Under the agreement, Intermountain will acquire Surgery Partners’ ownership interest in Idaho Falls Community Hospital and Mountain View Hospital, also based in Idaho Falls. The deal values the facilities at approximately $1.15 billion, with total consideration to Surgery Partners of roughly $795 million.
The transaction is expected to be completed in the coming months and is subject to customary closing conditions, including Mountain View Hospital physician member and physician governing board approvals.
2. Ogdensburg, N.Y.-based North Star Health Alliance said it plans to develop a strategic partnership with Rochester (N.Y.) Regional Health to help restore the bankrupt system’s long-term financial and operational stability.
North Star’s boards of directors conducted a potential partner evaluation in collaboration with the New York State Department of Health to select Rochester Regional. The two parties will partner to apply with the state’s DOH for a multi-year safety net transformation program grant to help North Star recover long-term. With the state DOH’s support, they will also continue discussions for a more formal affiliation structure subject to regulatory and court approvals.
3. Jackson-based University of Mississippi Medical Center received bankruptcy court approval to take over Greenwood (Miss.) Leflore Hospital, effective Aug. 1.
The two parties signed a letter of intent in early March to explore the potential takeover. The Mississippi Institutions of Higher Learning board of trustees then voted in late June for UMMC to take over Greenwood Leflore, which sought Chapter 9 bankruptcy protection April 15. Under the transfer, the hospital will be renamed UMMC Greenwood.
4. Chattanooga, Tenn.-based Erlanger Health signed a non-binding letter of intent to join Greenville, S.C.-based Prisma Health.
The proposed partnership includes $2 billion in strategic capital investments to expand access to care and accelerate innovation and growth across the Chattanooga region. A final agreement requires approval from Erlanger’s board, the Erlanger Health Oversight Panel, the Hamilton County Commission, and federal and state regulators.
“Healthcare is changing rapidly, and we knew that given our position of strength and national recognition for our clinical quality, we had a responsibility to explore options that would allow us to accelerate our plans forward,” said Barry Large, chair of the Erlanger board of directors.
5. Altamonte Springs, Fla.-based AdventHealth and Salt Lake City-based Intermountain Health signed a letter of intent to form a joint venture combining their greater Denver-area hospitals and care sites.
The two systems plan to sign a definitive agreement in the coming weeks. The transaction is expected to close in early 2027, pending regulatory approvals. AdventHealth said it will manage and lead daily operations, utilizing a whole-person care approach to support patients and care teams across the area.
The joint venture would bring together AdventHealth’s five Denver-area hospitals, along with off-site emergency and urgent care centers and dozens of medical practices, and Intermountain’s three Colorado hospitals, along with related physician practices and clinics.
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