The following hospital mergers and acquisitions took place within the past two weeks, beginning with the most recent.
1. Broadway Medical Center in Minnesota Merges With Sanford Health
Broadway Medical Center in Alexandria, Minn., has merged with Sanford Health, headquartered in Fargo, N.D., and Sioux Falls, S.D. Effective Jan. 1, Broadway Medical Center will be known as Sanford Health Broadway Clinic.
2. California's Palm Drive Hospital, Marin General to Affiliate
Palm Drive Hospital in Sebastopol, Calif., is moving forward in its affiliation with Marin General Hospital in Greenbrae, Calif. The Palm Drive Healthcare District unanimously approved the affiliation agreement yesterday. HealthTech, Palm Drive's current operator, will assist in the shift in operations to Marin, beginning Jan. 1. The transition is expected to take four months and HealthTech's contract will officially expire in Nov. 2012.
3. Task Force Finds University of Colorado Hospital as Attractive Option for Memorial Health System
A task force has recommended University of Colorado Hospital in Aurora as the best fit to operate Colorado Springs, Colo.-based Memorial Health System. Under the proposed arrangement, UCH would lease and operate Memorial's facilities as the southern hub of a new non-profit health system between UCH and Poudre Valley Health System, based in Fort Collins, Colo.
4. Alabama's Huntsville Hospital Signs Definitive Agreement to Acquire Capella's Parkway Medical Center
Huntsville (Ala.) Hospital and Franklin, Tenn.-based Capella Healthcare have signed a definitive agreement for Huntsville Hospital to acquire Capella's Parkway Medical Center of Decatur (Ala.). The deal is expected to be finalized before the end of the year. The joint news release did not disclose any financial terms of the potential transaction.
5. St. Joseph Medical Center in Maryland Attracts 5 Hospitals for Partnership
St. Joseph Medical Center in Towson, Md., has attracted five suitors for a partnership despite its poor financial standing and recent allegations of unnecessary stent procedures by its physicians. Those suitors are University of Maryland Medical System, based in Baltimore; LifeBridge Health, based in Baltimore; Medstar Health, based in Columbia, Md.; Greater Baltimore Medical Center; and St. Agnes Hospital in Baltimore.
6. Faxton St. Luke's, St. Elizabeth Medical Center in NY Explore Merger
Faxton St. Luke's Healthcare in Utica, N.Y., and St. Elizabeth Medical Center, also in Utica, are beginning to negotiate the possibility of merging. Officials expect the process to take 18-24 months.
7. Alamance Regional to Merge With Cone Health in NC
Alamance Regional Medical Center in Burlington, N.C., is merging with Greensboro, N.C.-based Cone Health. The boards of both organizations have approved the deal, which is expected to be completed by spring.
8. NJ State Officials Won't Expedite Sale of Christ Hospital to Prime
New Jersey state officials have said the pending sale of Christ Hospital in Jersey City to Prime Healthcare Services, a for-profit company based in Ontario, Calif., will not be complete by 2012. A Christ Hospital spokesperson has indicated that the expedited deadline was an "internal goal" for the hospital and whether it is met does not affect the sale.
9. New York's Cayuga Medical Center, Schuyler Hospital to Affiliate
Cayuga Medical Center in Ithaca, N.Y., and Schuyler Hospital in Montour Falls, N.Y., have signed a letter of intent to affiliate. Under the proposed agreement, both hospitals will remain independent but will explore administrative and clinical collaborations. The agreement is expected to be finalized in early 2012.
10. RegionalCare Hospital Partners, UAB Health to Partner
Regional Care Hospital Partners and the University of Alabama at Birmingham Health System have agreed to partner and will identify ways to collaborate to improve local healthcare quality. Both systems will remain separate and no fee is associated with the agreement.
11. HCA Sells Palmyra to Phoebe Putney for $198M
Nashville, Tenn.-based Hospital Corporation of America has completed the sale of Palmyra Medical Center in Albany, Ga., to the Hospital Authority of Albany-Dougherty County. The hospital was sold for roughly $198 million. The sale had been pending since Dec. 2010.
12. Scott Memorial Hospital Seeks Partner to Replace Kentucky's Jewish Hospital
County-owned Scott Memorial Hospital in Scottsburg, Ind., is seeking a partner with which to merge or affiliate. The pursuit for a partner took on a new sense of urgency when Jewish Hospital in Louisville, Ky., told SMH its 20-year-old management contract would soon expire due to Jewish's pending merger with University Hospital in Louisville and St. Joseph Health System in Lexington, Ky. The 25-bed SMH hospital sent out requests for proposals last month.
13. NJ's Underwood-Memorial Negotiating Merger With South Jersey Healthcare
A merger between Underwood-Memorial Hospital in Woodbury, N.J., and South Jersey Healthcare in Bridgeton, N.J., is likely and may be announced before the end of the year. The 305-bed Underwood-Memorial has reportedly been in serious talks with the 575-bed South Jersey since at least April.
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1. Broadway Medical Center in Minnesota Merges With Sanford Health
Broadway Medical Center in Alexandria, Minn., has merged with Sanford Health, headquartered in Fargo, N.D., and Sioux Falls, S.D. Effective Jan. 1, Broadway Medical Center will be known as Sanford Health Broadway Clinic.
2. California's Palm Drive Hospital, Marin General to Affiliate
Palm Drive Hospital in Sebastopol, Calif., is moving forward in its affiliation with Marin General Hospital in Greenbrae, Calif. The Palm Drive Healthcare District unanimously approved the affiliation agreement yesterday. HealthTech, Palm Drive's current operator, will assist in the shift in operations to Marin, beginning Jan. 1. The transition is expected to take four months and HealthTech's contract will officially expire in Nov. 2012.
3. Task Force Finds University of Colorado Hospital as Attractive Option for Memorial Health System
A task force has recommended University of Colorado Hospital in Aurora as the best fit to operate Colorado Springs, Colo.-based Memorial Health System. Under the proposed arrangement, UCH would lease and operate Memorial's facilities as the southern hub of a new non-profit health system between UCH and Poudre Valley Health System, based in Fort Collins, Colo.
4. Alabama's Huntsville Hospital Signs Definitive Agreement to Acquire Capella's Parkway Medical Center
Huntsville (Ala.) Hospital and Franklin, Tenn.-based Capella Healthcare have signed a definitive agreement for Huntsville Hospital to acquire Capella's Parkway Medical Center of Decatur (Ala.). The deal is expected to be finalized before the end of the year. The joint news release did not disclose any financial terms of the potential transaction.
5. St. Joseph Medical Center in Maryland Attracts 5 Hospitals for Partnership
St. Joseph Medical Center in Towson, Md., has attracted five suitors for a partnership despite its poor financial standing and recent allegations of unnecessary stent procedures by its physicians. Those suitors are University of Maryland Medical System, based in Baltimore; LifeBridge Health, based in Baltimore; Medstar Health, based in Columbia, Md.; Greater Baltimore Medical Center; and St. Agnes Hospital in Baltimore.
6. Faxton St. Luke's, St. Elizabeth Medical Center in NY Explore Merger
Faxton St. Luke's Healthcare in Utica, N.Y., and St. Elizabeth Medical Center, also in Utica, are beginning to negotiate the possibility of merging. Officials expect the process to take 18-24 months.
7. Alamance Regional to Merge With Cone Health in NC
Alamance Regional Medical Center in Burlington, N.C., is merging with Greensboro, N.C.-based Cone Health. The boards of both organizations have approved the deal, which is expected to be completed by spring.
8. NJ State Officials Won't Expedite Sale of Christ Hospital to Prime
New Jersey state officials have said the pending sale of Christ Hospital in Jersey City to Prime Healthcare Services, a for-profit company based in Ontario, Calif., will not be complete by 2012. A Christ Hospital spokesperson has indicated that the expedited deadline was an "internal goal" for the hospital and whether it is met does not affect the sale.
9. New York's Cayuga Medical Center, Schuyler Hospital to Affiliate
Cayuga Medical Center in Ithaca, N.Y., and Schuyler Hospital in Montour Falls, N.Y., have signed a letter of intent to affiliate. Under the proposed agreement, both hospitals will remain independent but will explore administrative and clinical collaborations. The agreement is expected to be finalized in early 2012.
10. RegionalCare Hospital Partners, UAB Health to Partner
Regional Care Hospital Partners and the University of Alabama at Birmingham Health System have agreed to partner and will identify ways to collaborate to improve local healthcare quality. Both systems will remain separate and no fee is associated with the agreement.
11. HCA Sells Palmyra to Phoebe Putney for $198M
Nashville, Tenn.-based Hospital Corporation of America has completed the sale of Palmyra Medical Center in Albany, Ga., to the Hospital Authority of Albany-Dougherty County. The hospital was sold for roughly $198 million. The sale had been pending since Dec. 2010.
12. Scott Memorial Hospital Seeks Partner to Replace Kentucky's Jewish Hospital
County-owned Scott Memorial Hospital in Scottsburg, Ind., is seeking a partner with which to merge or affiliate. The pursuit for a partner took on a new sense of urgency when Jewish Hospital in Louisville, Ky., told SMH its 20-year-old management contract would soon expire due to Jewish's pending merger with University Hospital in Louisville and St. Joseph Health System in Lexington, Ky. The 25-bed SMH hospital sent out requests for proposals last month.
13. NJ's Underwood-Memorial Negotiating Merger With South Jersey Healthcare
A merger between Underwood-Memorial Hospital in Woodbury, N.J., and South Jersey Healthcare in Bridgeton, N.J., is likely and may be announced before the end of the year. The 305-bed Underwood-Memorial has reportedly been in serious talks with the 575-bed South Jersey since at least April.
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