The following developments were reported within the past week, beginning with the most recent.
1. Colorado's Centura Healthcare is Memorial Health System's Latest Suitor
Joining Phoenix-based Banner Health and University of Colorado Hospital, Englewood, Colo.-based Centura Healthcare became the latest suitor to lease Memorial Health System in Colorado Springs, Colo. Requests for proposals are slated to go out Monday and final proposals are due by Nov. 14.
2. Catholic Healthcare West Seeks Buyer for Saint Mary's in Nevada
Catholic Healthcare West is in talks with potential buyers for its Saint Mary's Regional Medical Center in Reno, Nev. Universal Health Services, a for-profit company based in King of Prussia, Pa., is reportedly a potential buyer.
3. Maryland's St. Joseph Medical Center Looks for Partner After Stent Controversy
St. Joseph Medical Center in Towson, Md., put out a call for a "strategic relationship" to a group of Maryland healthcare organizations. It plans to begin evaluating proposals within the next six to 12 months. The search for a partner is beginning a little less than a year after the hospital agreed to pay a $22 million settlement over alleged unnecessary stent procedures.
4. Lahey Clinic, Northeast Health Merger Moves Forward
The proposed merger between Burlington, Mass.-based Lahey Clinic and Beverly, Mass.-based Northeast Health System took a step forward as the health systems filed documents outlining specific integration plans with the Massachusetts Department of Public Health last week.
5. New Jersey's Bergen Regional Medical Center May Go Up For Sale
The 1,000-bed Bergen Regional Medical Center in Paramus, N.J., could be put up for sale because it treats too many patients from outside the county and may need $13.2 million in upgrades this year. The hospital is owned by the Bergen County Improvement Authority, which has requested a "litany of financial and operational information" from the for-profit company that manages Bergen to determine if the county should continue to own the facility.
6. Massachusetts' Saints Medical Center Dumps Steward Health for Another Partner
Six months after signing a letter of intent, Saints Medical Center in Lowell, Mass., pulled out of a deal to be acquired by Steward Health Care System and is instead planning to merge with cross-town rival Lowell General Hospital. Some physicians affiliated with the non-profit Saints had objected to the alliance with Boston-based, for-profit Steward, according to reports.
7. Kentucky AG Rules University Hospital is Public; Could Affect Merger
Kentucky Attorney General Jack Conway ruled that University Hospital in Louisville is a public institution — a decision that could affect a three-system merger in Kentucky. The argument that the deal would violate the Constitution's ban on government favoring a religion is based on the belief that University is a public hospital.
8. Washington's Providence, Swedish to Combine but Keep Individual Brands
Renton, Wash.-based Providence Health & Services and Seattle-based Swedish Health Services will join to form a new, unique non-profit system. While Providence and Swedish will combine their individual hospitals under one umbrella, each system will maintain its individual identity. Providence will keep the Providence name and its Catholic mission, while Swedish will keep its name and remain a non-religious organization.
9. Vote on Merger of Loris Healthcare, McLeod Health Scheduled for Nov. 1
Voters in the special district that oversees Loris (S.C.) Healthcare System will vote on Nov. 1 whether or not to merge with Florence, S.C.-based McLeod Health.
10. Massachusetts' Cooley Dickinson Hospital Pushes Back Decision to Merge or Sell
Cooley Dickinson Hospital in Northampton, Mass., is delaying its decision on a merger or sale with another hospital, pushing it back from the end of November to the end of February. The three finalists to merge or buy Cooley Dickinson are Baystate Health Systems of Springfield, Mass., Massachusetts General Hospital in Boston and Vanguard Health Systems of Nashville, Tenn.
11. Georgia's McDuffie Regional Plans Sale to University Health Care
After more than a year's worth of talks, the board of McDuffie Regional Medical Center in Thomson, Ga., voted to sell to University Health Care System in Augusta, Ga. The agreement requires University to build a replacement hospital in McDuffie County, since the current facility is only useful for about five more years.
12. CHS Acquires Texas' Tomball Regional Medical Center
Tomball (Texas) Regional Medical Center officially sold to a subsidiary of Franklin, Tenn.-based Community Health Systems. Sale proceeds will go towards Tomball Hospital Authority's outstanding financial obligations, and TRMC will convert to taxable status. The purchase agreement includes commitments from CHS to make capital investments of at least $50 million over five years to enhance clinical programs and improve facilities and medical technology.
Calling it Off: Why Some Hospital Mergers Fail and Others Don't
Varying Degrees of Consolidation: Why Creativity Matters in Hospital Transactions
1. Colorado's Centura Healthcare is Memorial Health System's Latest Suitor
Joining Phoenix-based Banner Health and University of Colorado Hospital, Englewood, Colo.-based Centura Healthcare became the latest suitor to lease Memorial Health System in Colorado Springs, Colo. Requests for proposals are slated to go out Monday and final proposals are due by Nov. 14.
2. Catholic Healthcare West Seeks Buyer for Saint Mary's in Nevada
Catholic Healthcare West is in talks with potential buyers for its Saint Mary's Regional Medical Center in Reno, Nev. Universal Health Services, a for-profit company based in King of Prussia, Pa., is reportedly a potential buyer.
3. Maryland's St. Joseph Medical Center Looks for Partner After Stent Controversy
St. Joseph Medical Center in Towson, Md., put out a call for a "strategic relationship" to a group of Maryland healthcare organizations. It plans to begin evaluating proposals within the next six to 12 months. The search for a partner is beginning a little less than a year after the hospital agreed to pay a $22 million settlement over alleged unnecessary stent procedures.
4. Lahey Clinic, Northeast Health Merger Moves Forward
The proposed merger between Burlington, Mass.-based Lahey Clinic and Beverly, Mass.-based Northeast Health System took a step forward as the health systems filed documents outlining specific integration plans with the Massachusetts Department of Public Health last week.
5. New Jersey's Bergen Regional Medical Center May Go Up For Sale
The 1,000-bed Bergen Regional Medical Center in Paramus, N.J., could be put up for sale because it treats too many patients from outside the county and may need $13.2 million in upgrades this year. The hospital is owned by the Bergen County Improvement Authority, which has requested a "litany of financial and operational information" from the for-profit company that manages Bergen to determine if the county should continue to own the facility.
6. Massachusetts' Saints Medical Center Dumps Steward Health for Another Partner
Six months after signing a letter of intent, Saints Medical Center in Lowell, Mass., pulled out of a deal to be acquired by Steward Health Care System and is instead planning to merge with cross-town rival Lowell General Hospital. Some physicians affiliated with the non-profit Saints had objected to the alliance with Boston-based, for-profit Steward, according to reports.
7. Kentucky AG Rules University Hospital is Public; Could Affect Merger
Kentucky Attorney General Jack Conway ruled that University Hospital in Louisville is a public institution — a decision that could affect a three-system merger in Kentucky. The argument that the deal would violate the Constitution's ban on government favoring a religion is based on the belief that University is a public hospital.
8. Washington's Providence, Swedish to Combine but Keep Individual Brands
Renton, Wash.-based Providence Health & Services and Seattle-based Swedish Health Services will join to form a new, unique non-profit system. While Providence and Swedish will combine their individual hospitals under one umbrella, each system will maintain its individual identity. Providence will keep the Providence name and its Catholic mission, while Swedish will keep its name and remain a non-religious organization.
9. Vote on Merger of Loris Healthcare, McLeod Health Scheduled for Nov. 1
Voters in the special district that oversees Loris (S.C.) Healthcare System will vote on Nov. 1 whether or not to merge with Florence, S.C.-based McLeod Health.
10. Massachusetts' Cooley Dickinson Hospital Pushes Back Decision to Merge or Sell
Cooley Dickinson Hospital in Northampton, Mass., is delaying its decision on a merger or sale with another hospital, pushing it back from the end of November to the end of February. The three finalists to merge or buy Cooley Dickinson are Baystate Health Systems of Springfield, Mass., Massachusetts General Hospital in Boston and Vanguard Health Systems of Nashville, Tenn.
11. Georgia's McDuffie Regional Plans Sale to University Health Care
After more than a year's worth of talks, the board of McDuffie Regional Medical Center in Thomson, Ga., voted to sell to University Health Care System in Augusta, Ga. The agreement requires University to build a replacement hospital in McDuffie County, since the current facility is only useful for about five more years.
12. CHS Acquires Texas' Tomball Regional Medical Center
Tomball (Texas) Regional Medical Center officially sold to a subsidiary of Franklin, Tenn.-based Community Health Systems. Sale proceeds will go towards Tomball Hospital Authority's outstanding financial obligations, and TRMC will convert to taxable status. The purchase agreement includes commitments from CHS to make capital investments of at least $50 million over five years to enhance clinical programs and improve facilities and medical technology.
Related Articles on Hospital Transactions:
6 Overlooked Hospital M&A Concepts and TrendsCalling it Off: Why Some Hospital Mergers Fail and Others Don't
Varying Degrees of Consolidation: Why Creativity Matters in Hospital Transactions