Here are 11 mergers and acquisitions that took place in June 2010.
SUNY Upstate Medical University, a 409-bed academic medical center in Syracuse, N.Y., has decided to explore the acquisition of Community General Hospital, also in Syracuse. The merger would create the largest hospital in central New York state in terms of inpatient market share.
LifePoint was granted approval by a bankruptcy judge to purchase Sumner Regional Health System in Gallatin, Tenn., in a $145 million deal that includes a commitment of $9 million in working capital. Sumner filed for Chapter 11 bankruptcy in April.
Hospital Corporation of America signed a letter of intent to purchase Mercy Hospital in Miami.
University Medical Center Corp. and University Physicians Healthcare, both in Tuscon, Ariz., merged to form a $1.2 billion entity on July 1. The new entity has been temporarily named University of Arizona Medicine.
Mercy Health System of Oklahoma, based in Oklahoma City, announced its plan to take over Parkview Hospital in El Reno, Okla. In 2008, the El Reno City Council got a temporary restraining order to prevent Parkview's board from entering into a long-term contract with a management company.
Albany, N.Y.-based Northeast Health and St. Peter's Health Care Services and Troy, N.Y.-based St. Mary's Hospital are moving forward with plans for a three-way merger. The groups are currently seeking approval from the state Attorney General and Department of Health and the Federal Trade Commission
Cooley Dickinson Hospital in Northampton, Mass., is exploring a partnership with a larger hospital to reduce costs. Potential candidates include Baystate Medical Center in Springfield, Mass., General Hospital in Boston and University of Massachusetts Medical Center in Worcester, Mass.
Ardent Health Services signed an agreement to purchase Youngstown, Ohio-based Forum Health for $69.8 million. Ardent, which currently operates eight hospitals, has agreed to invest at least $50 million over five years to renovate the Ohio hospitals.
Vanguard Health Systems and Detroit Medical Center signed a final agreement for Vanguard's purchase of the eight-hospital health system. Vanguard will pay $417 million in cash and will pledge $350 million to fund renovation projects at DMC's facilities, as well as $500 million for new construction projects.
Community Hospital of Long Beach (Calif.) is moving toward a merger with Long Beach Memorial Medical Center. Long Beach Memorial, part of MemorialCare Health System, will take over Community Hospital's operations while due diligence is performed.
Mission Health System in Asheville, N.C., and Transylvania Regional Hospital in Brevard, N.C., took the next step toward finalizing a merger by approving a memorandum of understanding.
SUNY Upstate Medical University, a 409-bed academic medical center in Syracuse, N.Y., has decided to explore the acquisition of Community General Hospital, also in Syracuse. The merger would create the largest hospital in central New York state in terms of inpatient market share.
LifePoint was granted approval by a bankruptcy judge to purchase Sumner Regional Health System in Gallatin, Tenn., in a $145 million deal that includes a commitment of $9 million in working capital. Sumner filed for Chapter 11 bankruptcy in April.
Hospital Corporation of America signed a letter of intent to purchase Mercy Hospital in Miami.
University Medical Center Corp. and University Physicians Healthcare, both in Tuscon, Ariz., merged to form a $1.2 billion entity on July 1. The new entity has been temporarily named University of Arizona Medicine.
Mercy Health System of Oklahoma, based in Oklahoma City, announced its plan to take over Parkview Hospital in El Reno, Okla. In 2008, the El Reno City Council got a temporary restraining order to prevent Parkview's board from entering into a long-term contract with a management company.
Albany, N.Y.-based Northeast Health and St. Peter's Health Care Services and Troy, N.Y.-based St. Mary's Hospital are moving forward with plans for a three-way merger. The groups are currently seeking approval from the state Attorney General and Department of Health and the Federal Trade Commission
Cooley Dickinson Hospital in Northampton, Mass., is exploring a partnership with a larger hospital to reduce costs. Potential candidates include Baystate Medical Center in Springfield, Mass., General Hospital in Boston and University of Massachusetts Medical Center in Worcester, Mass.
Ardent Health Services signed an agreement to purchase Youngstown, Ohio-based Forum Health for $69.8 million. Ardent, which currently operates eight hospitals, has agreed to invest at least $50 million over five years to renovate the Ohio hospitals.
Vanguard Health Systems and Detroit Medical Center signed a final agreement for Vanguard's purchase of the eight-hospital health system. Vanguard will pay $417 million in cash and will pledge $350 million to fund renovation projects at DMC's facilities, as well as $500 million for new construction projects.
Community Hospital of Long Beach (Calif.) is moving toward a merger with Long Beach Memorial Medical Center. Long Beach Memorial, part of MemorialCare Health System, will take over Community Hospital's operations while due diligence is performed.
Mission Health System in Asheville, N.C., and Transylvania Regional Hospital in Brevard, N.C., took the next step toward finalizing a merger by approving a memorandum of understanding.