The following hospital mergers and acquisitions took place within the past two weeks, beginning with the most recent.
1. Two Rochester Health Systems Bid on Auburn Memorial in New York
Auburn (N.Y.) Memorial Hospital is looking at the University of Rochester Medical Center and Rochester General Health System as potential partners. Rochester General Health System and University of Rochester Medical Center confirmed that formal proposals were submitted. Auburn officials said they could not name other suitors due to confidentiality agreements, according to reports.
2. SunLink, Foundation Healthcare Call Off Merger
Atlanta-based SunLink Health Systems and Oklahoma City-based Foundation Healthcare Affiliates ended discussions to merge. Robert Thornton, SunLink chairman and CEO, said "differences in the parties' respective business models, philosophies and operating assets drove the decision not to move forward," according to a system news release.
3. Tennessee's RegionalCare Now Operates 7 Essent Hospitals
Brentwood, Tenn.-based RegionalCare Hospital Partners and Nashville, Tenn.-based Essent Healthcare have completed their merger. Under the deal, RegionalCare will absorb Essent and operate its seven rural hospitals in six states. Financial terms of the deal were not disclosed. RegionalCare Chairman and CEO Marty Rash will continue to lead the company.
4. Sale of NJ's Hoboken University Medical Center to For-Profit HUMC Holdco Finalized
The sale of Hoboken (N.J.) University Medical Center to for-profit HUMC Holdco was finalized Nov. 5. HUMC Holdco's principals also run Bayonne (N.J.) Medical Center. HUMC Holdco plans to operate HUMC as a for-profit hospital and has paid off $52 million in bond debt and agreed to invest $20 million in improvements.
5. Massachusetts' Cooley Dickinson Cuts Vanguard From List of Potential Partners
Cooley Dickinson Hospital in Northampton, Mass., has cut Nashville, Tenn.-based Vanguard Health Systems from its list of potential partners, leaving Baystate Health System in Springfield, Mass., and Massachusetts General Hospital in Boston as the remaining two suitors. Cooley Dickinson's board voted last week to eliminate Vanguard from the running, saying it lacked the "clinical connections" the other systems offered, according to reports.
6. Mississippi's Baptist Heath Systems Acquires Leake Memorial
Jackson, Miss.-based Baptist Health Systems has acquired Leake Memorial Hospital/Extended Care in Carthage, Miss. The deal, which took effect Nov. 1, brings Leake Memorial within the Baptist network. Baptist plans to expand key service lines, recruit additional physicians and renovate the facilities.
7. Trinity Health Signs Letter of Intent to Acquire Chicago's Mercy Hospital
Novi, Mich.-based Trinity Health signed a letter of intent to acquire Mercy Hospital & Medical Center in Chicago. Mercy, located in Chicago's Near South Side, operates a 479-bed hospital and 11 clinics. If the deal goes through, it would be Trinity's second acquisition in the Chicago area. In July, the 47-hospital chain paid $88 million for Loyola University Health System in Maywood, Ill.
8. Fairview Red Wing Medical Center in Minnesota Could Join Mayo Network
Fairview Red Wing (Minn.) Medical Center could end its relationship with Minneapolis-based Fairview Health Services and join the Mayo Clinic Health System if discussions among the three groups progress. A decision on the agreement is expected in 2012.
9. Washington's Virginia Mason Medical Center, Evergreen Healthcare Partner
Virginia Mason Medical Center in Seattle and Kirkland, Wash.-based Evergreen Healthcare formed a strategic partnership to collaborate on patient care. A letter of agreement is expected to be signed mid-November. Under the partnership, the systems will remain independent while collaborating on certain initiatives, such as shared medical services and the development of new treatments and technologies.
10. Kansas' Salina Regional, Lindsborg Community Expand Partnership
Lindsborg (Kan.) Community Hospital and Salina (Kan.) Regional Health Center will expand their partnership to identify additional ways to work together to improve patient care quality and efficiency. Salina Regional currently staffs the pharmacy inside Lindsborg, a 25-bed critical access hospital. The hospitals began exploring a closer affiliation in response to healthcare reform and other changes.
11. HMA, Integris Strike Joint Venture Deals for 5 Oklahoma Hospitals
Naples, Fla.-based Health Management Associates has announced agreements with Oklahoma City-based Integris Health to joint venture five hospitals in Oklahoma. The hospitals to be joint ventured between the two organizations include: Integris Blackwell (Okla.) Regional Hospital; Integris Clinton (Okla.) Regional Hospital; Integris Marshall County Medical Center in Madill; Integris Mayes County Medical Center in Pryor; and Integris Seminole (Okla.) Medical Center.
12. Illinois' Provena, Resurrection Officially Merged
The merger joining Mokena, Ill.-based Provena Health and Chicago-based Resurrection Health Care was finalized Nov. 1. The merger will form the largest Catholic healthcare system in Illinois with more than 150 sites of care spanning from Chicago's lakefront to east-central Illinois. The system, which is yet to be named, includes 12 hospitals.
13. NC's Maria Parham Medical Center Officially Part of Duke LifePoint
Henderson, N.C.-based Maria Parham Medical Center is officially part of Duke LifePoint Healthcare after a joint venture agreement was finalized today. Under the agreement, Duke LifePoint and MPMC formed a joint venture to own and operate the hospital. Duke LifePoint, a joint venture of Durham, N.C.-based Duke University Health System and Brentwood, Tenn.-based LifePoint Hospitals, will own 80 percent of the joint venture and has committed to investing $45 million in capital improvements at the hospital over the next 10 years. The transaction's $30 million in proceeds will be used to create a locally-governed charitable foundation.
14. Georgia's University Hospital Closer to Acquiring McDuffie Regional
University Hospital in Augusta, Ga., made progress in its proposed acquisition of McDuffie Regional Medical Center when University's board approved a memorandum of understanding between the groups. Parent company University Health approved the agreement, which calls for University to acquire McDuffie, located in Thomson, Ga., and build a replacement hospital of the same size. University would retain McDuffie's current employees at equivalent wages, and services would not change.
15. Illinois' Elmhurst Memorial, Northwestern Memorial in Merger Talks
Northwestern Memorial in Chicago and Elmhurst (Ill.) Memorial Healthcare are entering into exclusive discussions to explore an affiliation. Additional details about the discussions were not disclosed. Hospital officials anticipate this next phase of the discussion to be complete within several months.
16. Twin County Regional in Virginia May Partner With Duke LifePoint
Twin County Regional Healthcare in Galax, Va., singed a memorandum of understanding to form a partnership with Duke LifePoint to own and operate Twin County Regional Hospital. Under the proposed non-binding agreement, TCRH would retain a 20 percent ownership interest in the hospital, while Duke LifePoint would own 80 percent of the health system, but governance would be equally shared between the two organizations.
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1. Two Rochester Health Systems Bid on Auburn Memorial in New York
Auburn (N.Y.) Memorial Hospital is looking at the University of Rochester Medical Center and Rochester General Health System as potential partners. Rochester General Health System and University of Rochester Medical Center confirmed that formal proposals were submitted. Auburn officials said they could not name other suitors due to confidentiality agreements, according to reports.
2. SunLink, Foundation Healthcare Call Off Merger
Atlanta-based SunLink Health Systems and Oklahoma City-based Foundation Healthcare Affiliates ended discussions to merge. Robert Thornton, SunLink chairman and CEO, said "differences in the parties' respective business models, philosophies and operating assets drove the decision not to move forward," according to a system news release.
3. Tennessee's RegionalCare Now Operates 7 Essent Hospitals
Brentwood, Tenn.-based RegionalCare Hospital Partners and Nashville, Tenn.-based Essent Healthcare have completed their merger. Under the deal, RegionalCare will absorb Essent and operate its seven rural hospitals in six states. Financial terms of the deal were not disclosed. RegionalCare Chairman and CEO Marty Rash will continue to lead the company.
4. Sale of NJ's Hoboken University Medical Center to For-Profit HUMC Holdco Finalized
The sale of Hoboken (N.J.) University Medical Center to for-profit HUMC Holdco was finalized Nov. 5. HUMC Holdco's principals also run Bayonne (N.J.) Medical Center. HUMC Holdco plans to operate HUMC as a for-profit hospital and has paid off $52 million in bond debt and agreed to invest $20 million in improvements.
5. Massachusetts' Cooley Dickinson Cuts Vanguard From List of Potential Partners
Cooley Dickinson Hospital in Northampton, Mass., has cut Nashville, Tenn.-based Vanguard Health Systems from its list of potential partners, leaving Baystate Health System in Springfield, Mass., and Massachusetts General Hospital in Boston as the remaining two suitors. Cooley Dickinson's board voted last week to eliminate Vanguard from the running, saying it lacked the "clinical connections" the other systems offered, according to reports.
6. Mississippi's Baptist Heath Systems Acquires Leake Memorial
Jackson, Miss.-based Baptist Health Systems has acquired Leake Memorial Hospital/Extended Care in Carthage, Miss. The deal, which took effect Nov. 1, brings Leake Memorial within the Baptist network. Baptist plans to expand key service lines, recruit additional physicians and renovate the facilities.
7. Trinity Health Signs Letter of Intent to Acquire Chicago's Mercy Hospital
Novi, Mich.-based Trinity Health signed a letter of intent to acquire Mercy Hospital & Medical Center in Chicago. Mercy, located in Chicago's Near South Side, operates a 479-bed hospital and 11 clinics. If the deal goes through, it would be Trinity's second acquisition in the Chicago area. In July, the 47-hospital chain paid $88 million for Loyola University Health System in Maywood, Ill.
8. Fairview Red Wing Medical Center in Minnesota Could Join Mayo Network
Fairview Red Wing (Minn.) Medical Center could end its relationship with Minneapolis-based Fairview Health Services and join the Mayo Clinic Health System if discussions among the three groups progress. A decision on the agreement is expected in 2012.
9. Washington's Virginia Mason Medical Center, Evergreen Healthcare Partner
Virginia Mason Medical Center in Seattle and Kirkland, Wash.-based Evergreen Healthcare formed a strategic partnership to collaborate on patient care. A letter of agreement is expected to be signed mid-November. Under the partnership, the systems will remain independent while collaborating on certain initiatives, such as shared medical services and the development of new treatments and technologies.
10. Kansas' Salina Regional, Lindsborg Community Expand Partnership
Lindsborg (Kan.) Community Hospital and Salina (Kan.) Regional Health Center will expand their partnership to identify additional ways to work together to improve patient care quality and efficiency. Salina Regional currently staffs the pharmacy inside Lindsborg, a 25-bed critical access hospital. The hospitals began exploring a closer affiliation in response to healthcare reform and other changes.
11. HMA, Integris Strike Joint Venture Deals for 5 Oklahoma Hospitals
Naples, Fla.-based Health Management Associates has announced agreements with Oklahoma City-based Integris Health to joint venture five hospitals in Oklahoma. The hospitals to be joint ventured between the two organizations include: Integris Blackwell (Okla.) Regional Hospital; Integris Clinton (Okla.) Regional Hospital; Integris Marshall County Medical Center in Madill; Integris Mayes County Medical Center in Pryor; and Integris Seminole (Okla.) Medical Center.
12. Illinois' Provena, Resurrection Officially Merged
The merger joining Mokena, Ill.-based Provena Health and Chicago-based Resurrection Health Care was finalized Nov. 1. The merger will form the largest Catholic healthcare system in Illinois with more than 150 sites of care spanning from Chicago's lakefront to east-central Illinois. The system, which is yet to be named, includes 12 hospitals.
13. NC's Maria Parham Medical Center Officially Part of Duke LifePoint
Henderson, N.C.-based Maria Parham Medical Center is officially part of Duke LifePoint Healthcare after a joint venture agreement was finalized today. Under the agreement, Duke LifePoint and MPMC formed a joint venture to own and operate the hospital. Duke LifePoint, a joint venture of Durham, N.C.-based Duke University Health System and Brentwood, Tenn.-based LifePoint Hospitals, will own 80 percent of the joint venture and has committed to investing $45 million in capital improvements at the hospital over the next 10 years. The transaction's $30 million in proceeds will be used to create a locally-governed charitable foundation.
14. Georgia's University Hospital Closer to Acquiring McDuffie Regional
University Hospital in Augusta, Ga., made progress in its proposed acquisition of McDuffie Regional Medical Center when University's board approved a memorandum of understanding between the groups. Parent company University Health approved the agreement, which calls for University to acquire McDuffie, located in Thomson, Ga., and build a replacement hospital of the same size. University would retain McDuffie's current employees at equivalent wages, and services would not change.
15. Illinois' Elmhurst Memorial, Northwestern Memorial in Merger Talks
Northwestern Memorial in Chicago and Elmhurst (Ill.) Memorial Healthcare are entering into exclusive discussions to explore an affiliation. Additional details about the discussions were not disclosed. Hospital officials anticipate this next phase of the discussion to be complete within several months.
16. Twin County Regional in Virginia May Partner With Duke LifePoint
Twin County Regional Healthcare in Galax, Va., singed a memorandum of understanding to form a partnership with Duke LifePoint to own and operate Twin County Regional Hospital. Under the proposed non-binding agreement, TCRH would retain a 20 percent ownership interest in the hospital, while Duke LifePoint would own 80 percent of the health system, but governance would be equally shared between the two organizations.
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