The following hospital and healthcare transactions occurred within the past week.
1. Franklin, Tenn.-based Community Health Systems permanently withdrew its offer to buy Beaufort Regional Health System in Washington, N.C., following negative community reactions. The BRHS Board of Commissioners will meet next Tuesday to determine next steps.
2. Twin City Hospital in Dennison, Ohio, will continue the challenging task of finding a buyer after three systems it approached reported they were not interested in purchasing the facility. Union Hospital in Dover, Ohio, Aultman Hospital in Canton, Ohio, and Mercy Medical Center, also in Canton, declined to pursue a deal with the ailing hospital.
3. Saint Agnes Medical Center in Fresno, Calif., will acquire Fresno (Calif.) Surgical Hospital on March 31. Both parties have signed a letter of intent to partner. SAMC will acquire a 51 percent interest in FSH, but each will operate under a separate license. A joint operations board will oversee the acquired hospital.
4. In its fourth attempt to sell in nearly two years, Brown County General Hospital in Georgetown, Ohio, accepted Scottsdale, Ariz.-based Southwest Healthcare’s proposal.
5. Pikeville (Ky.) Medical Center announced an affiliation with Cleveland Clinic in cardiovascular care.
6. Valley Medical Center in Renton, Wash., may affiliate with Seattle-based UW Medicine — the hospital network of the University of Washington School of Medicine, which owns or operates three hospitals. VMC’s CEO, Rich Roodman, recommended the hospital form a strategic alliance — not pursue a merger — with UW Medicine.
7. The board of trustees at Shawano (Wis.) Medical Center approved an agreement to integrate with Appleton, Wis.-based ThedaCare. ThedaCare’s board approved the agreement last week, which will be effective Jan. 30.
8. HCA’s Mainland Medical Center in Texas City, Texas, and Clear Lake Regional Medical Center in Webster, Texas, will soon merge under the Clear Lake Regional umbrella. No jobs are expected to be lost when Clear Lake Regional’s license is extended to Mainland Medical.
9. Arnot Ogden Medical Center and St. Joseph’s Hospital, both located in Elmira, N.Y., signed a formal agreement to merge into a single regional health system. While the agreement awaits approval from the New York State Health Department, Arnot Ogden will manage St. Joseph’s operations under an interim agreement.
10. Ralph de la Torre, CEO of Steward Health Care System, has revealed plans to replicate the company’s community hospitals in Massachusetts on a national level. Steward, the new company created by the new owner of Caritas Christi Health Care hospitals, owns six Catholic hospitals in Massachusetts. Steward is owned by Cerberus Capital Management, a New York investment firm.
12. Llano (Texas) Memorial Hospital officially merged into Temple, Texas-based Scott & White Healthcare. The hospital has been renamed Scott & White Hospital – Llano. Scott & White will also take over the county-owned hospital’s clinics.
13. Prime Healthcare System converted its Montclair (Calif.) Hospital Medical Center to a non-profit, operated under the Prime Healthcare Foundation umbrella. The conversion went into effect Dec. 31, 2010.
14. An affiliation between All Children’s Hospital in St. Petersburg, Fla., and Johns Hopkins Health System is expected to be complete by March. Under the deal, All Children’s will become part of JHHS.
15. B. Reddy Dandolu, MD, a heart surgeon and CEO of DBR Healthcare, offered $31 million to acquire bankrupt Lower Bucks Hospital in Bristol, Pa. The offer is funded by private equity group Medley Capital of New York and CapitalSource Bank of Maryland and would include purchase price, change-over expenses fund, capital expenses and a three year operating capital line, according to the report.
Read more about hospital transactions:
– The Biggest Players in 2010 Healthcare M&A
– 3 Questions to Ask Before Merging or Selling Your Hospital
