Healthcare merger and acquisition activity increased by almost 20 percent in the third quarter of 2013 compared with the same quarter a year ago, according to a Health Care M&A News report.
There were 267 deals announced during the third quarter, up from 223 deals in the same quarter of 2012, according to the report. It was also a 15.6 percent increase from 231 deals in the second quarter of this year.
Deal value dropped 4.2 percent from $53 billion in the second quarter of 2013 to $50.8 billion in the third. However, value was up year-over-year by 35.1 percent from $37.6 billion in 2012.
A total of 24 hospital deals were announced in the third quarter, up 20 percent from 20 deals last quarter and 33.3 percent from 18 deals in the third quarter of 2012. It was an eventful quarter for the hospital industry, with Dallas-based Tenet Healthcare Corp.'s now completed $4.3 billion acquisition of Nashville, Tenn.-based Vanguard Health Systems and Franklin, Tenn.-based Community Health Systems' $7.6 billion bid for Naples, Fla.-based Health Management Associates in the spotlight.
Although there likely won't be any more mega-mergers in the near future, deal volume in the sector will probably remain elevated as standalone hospitals join larger healthcare organizations to stay afloat, according to the report.
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