Investors purchased a closed Pennsylvania facility, and a Washington hospital is exploring a potential affiliation with UW Medicine.
Here are two hospital M&A moves Becker’s reported on during the week of Sept. 8:
1. Port Angeles, Wash.-based Olympic Medical Center and Seattle-based UW Medicine signed a letter of intent to explore a possible affiliation.
The parties will next conduct a financial and operational assessment of the hospital to provide “an in-depth study of opportunities for growth and readiness for affiliation.” Olympic Medical Center operates a 67-bed acute care hospital and several clinics.
2. A hospital that was part of the now-shuttered Upland, Pa.-based Crozer Health was bought by a group of private investors for $1 million.
Ridley Park, Pa.-based Taylor Hospital closed April 26 after a bankruptcy court approved owner Prospect Medical Holdings’ plan to wind down operations at Crozer. The buyer is a partnership led by Todd Strinem, who is the majority owner of medical transport company Keystone Quality Transport.
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