The following healthcare mergers, acquisitions, partnerships and general transactions took place or were announced during the past week.
1. CHS to sell additional hospitals worth $2B in revenue
Franklin, Tenn.-based Community Health Systems completed its 30-hospital divestiture plan Nov. 1. However, Wayne Smith, chairman and CEO of CHS, said during a third quarter earnings call the company expects to sell another group of its hospitals with combined revenue of $2 billion.
2. Summa Health, physician partners agree to end 3-year battle over Ohio hospital
Akron, Ohio-based Summa Health and Western Reserve Hospital Partners, which operates Western Reserve Hospital, signed a letter of intent to end their three-year battle over the Cuyahoga Falls, Ohio-based hospital, the organizations announced Nov. 8.
3. Mississippi hospital to remain county-owned after vote to sell fails
Residents of Oktibbeha voted Nov. 7 not to sell Starkville, Miss.-based OCH Regional Medical Center.
4. Decision on sale of bankrupt North Carolina hospital postponed for 2nd time
A bankruptcy court judge adjourned a hearing Nov. 8 following three hours of testimony to allow attorneys to review financial documents regarding the proposed sale of Eden, N.C.-based Morehead Memorial Hospital. All parties will return to court Nov. 13.
5. Wellmont, MSHA outline next steps following merger approval
After receiving final approval from the Virginia Department of Health Oct. 30, leaders from Kingsport, Tenn.-based Wellmont Health System and Johnson City, Tenn.-based Mountain States Health Alliance released several documents Nov. 7 outlining their plan to merge.
6. University Hospitals partners with Salem Regional Medical Center on cancer care
Salem (Ohio) Regional Medical Center partnered with Cleveland-based University Hospitals Seidman Cancer Center to streamline cancer care for area patients, Salem Regional officials announced Nov. 8.
7. Berger Health System to begin negotiating official partnership with OhioHealth
Circleville, Ohio, voters approved a measure Nov. 8 to allow Circleville-based Berger Health System to enter into partnership negotiations with Columbus-based OhioHealth.
8. Franciscan Health purchases vacant hospital
Mishawaka, Ind.-based Franciscan Health purchased a vacant hospital in Hobart, Ind.
9. Geisinger to acquire New Jersey physician group
Danville, Pa.-based Geisinger Health System will acquire Tinton Falls, N.J.-based Professional Orthopaedic Associates, effective Jan. 1, 2018.
10. Baptist Health signs letter of intent to acquire Hardin Memorial Health
Baptist Health, a nine-hospital system in Louisville, Ky., signed a letter of intent to acquire and operate Elizabethtown, Ky.-based Hardin Memorial Health Nov. 6.
11. United Medical Center to cut ties with hospital operator Veritas
The D.C. Council voted 7-6 Tuesday to sever its relationship with Veritas, which operates Washington, D.C.-based United Medical Center, and turned down a one-year, $4.2 million management contract extension with the consulting firm.
12. Sanford Health acquires stake in German health system
Sioux Falls, S.D.-based Sanford Health's German subsidiary acquired a minority stake in Munich, Germany-based health system Isar-Klinik II AG, which owns the Isar Klinikum hospital in Munich, marking Sanford's first investment in an international hospital.