The following hospital transactions have taken place since Oct. 13, beginning with the most recent.
1. New Jersey Signs Off on Sale of Hoboken University Medical Center
The state of New Jersey approved the sale of Hoboken University Medical Center to HUMC Holdco, a for-profit company. Under the terms of the sale, HUMC Holdco will pay off HUMC's debt and invest $20 million in improvements. The deal is expected to be finalized within the next week.
2. New York City's Continuum Health Partners and NYU Langone Medical Center May Partner
Executives from Continuum Health Partners and NYU Langone Medical Center, two of New York City's major hospital organizations, are in the early stages of partnership discussions. Executives have said the talks are preliminary and details of how the relationship will be structured remain undefined. Continuum runs Beth Israel Medical Center in Manhattan, an East Side competitor of NYU Langone.
3. Adventist to Take Over California's Sierra Kings Hospital
Hanford, Calif.-based Adventist Health Central Valley Network is taking over Sierra Kings District Hospital in Reedley, Calif. The deal was finalized Oct. 12 and Adventist will begin operating Sierra Kings Nov. 1. The name will change to Adventist Medical Center-Reedley. Adventist will assume Sierra Kings' lease for $800,000 a year while purchasing its rural clinics for $4.6 million and equipment for $3.7 million, to be paid on the closing date.
4. Pittsburgh's Highmark, West Penn Allegheny Close to Definitive Agreement
Pittsburgh-based Highmark and West Penn Allegheny Health System reached a verbal agreement on the terms and conditions of the payor's planned acquisition of the hospital system. A West Penn spokesperson said a definitive agreement is expected to be signed "very soon," with some reports suggesting it may be within the next week.
5. Washington's Olympic Medical Center First to Join Swedish Health Network
With its affiliation agreement approved, Olympic Medial Center in Port Angeles, Wash., will become the first member of Seattle-based Swedish Health Network on Nov. 1. Forks (Wash.) Community Hospital and Jefferson Healthcare of Port Townshend, Wash., are expected to approve their affiliation agreements next month. Under the agreements, the hospitals will remain locally owned and independent. The arrangement will expand certain medical services and specialties.
6. New Orleans' Methodist Hospital Seeks Private Partners
The public board heading the redevelopment of Methodist Hospital in New Orleans is seeking private partners who could help fund and potentially operate the facility, which is slated to open in fall 2013. An operating alliance was reached with Baton Rouge, La.-based Franciscan Missionaries of Our Lady Health System in January, but the agreement doesn't call for Franciscan to put up money needed to reopen the hospital. The request for proposals will be published in the coming weeks and aims to solicit a wide range of suitors.
7. Arkansas' Baxter Regional Medical Center May Manage Community Medical Center of Izard County
Baxter Regional Medical Center Mountain Home, Ark., is in negotiations to manage Community Medical Center of Izard County in Calico Rock, Ark. Baxter Regional hopes to have a management agreement in place with the 25-bed critical access hospital by Nov. 30.
8. Catholic Healthcare West Picks Community Health Systems to Buy Saint Mary's in Nevada
Catholic Healthcare West chose Community Health Systems as the potential buyer of Saint Mary's Regional Medical Center in Reno, Nev. The two systems are now in the due-diligence phase and any sale would be finalized in early 2012. If approved, the sale would turn the 380-bed hospital into a for-profit entity.
9. Steward, Landmark Medical Center Submit Merger Application
Boston-based Steward Health Care Systems and Landmark Medical Center in Woonsocket, R.I., submitted a formal application to merge. A health department spokesperson said officials now have 30 days to determine whether the application is complete and then 180 days to approve or deny it. For-profit Steward signed an agreement to buy Landmark for $71 million in June.
10. Fletcher Allen Health Care, Central Vermont Medical Center Announce Affiliation
Central Vermont Medical Center in Berlin and Fletcher Allen Health Care, based in Burlington, Vt., have announced that their boards gave final approval to a corporate affiliation between the two organizations that took effect Oct. 1. Under the new affiliation, the two organizations will operate under a new organization called Fletcher Allen Partners and will retain their current and separate identities.
11. Illinois' Advocate Christ Medical Center, MD Anderson Announce Affiliation
Advocate Christ Medical Center in Oak Lawn, Ill., formed an affiliation with MD Anderson Physicians Network. MD Anderson Physicians Network is a subsidiary of The University of Texas MD Anderson Cancer Center in Houston. Under this new partnership, The Cancer Institute at ACMC will use MD Anderson's protocols to provide patients with some of the most advanced treatment options.
12. County Officials to Consider Sale of IU Health Starke Hospital to IU Health LaPorte Hospital
Starke County officials are considering the sale of IU Health Starke Hospital in Knox, Ind., to IU Health LaPorte (Ind.) Hospital. LaPorte Hospital currently operates Starke Hospital under a lease agreement that was established in 2009. Hospital officials requested county officials to consider a sale of the hospital and property to LaPorte Hospital for $1 and a waiver of the 20-year $7.4 million lease. If LaPorte Hospital does not renew the lease agreement, Starke Hospital would have to cover the $7.4 million cost.
13. Colorado AG Approves HCA's Purchase of Colorado Health Foundation's Interests in HealthONE
Colorado Attorney General John Suthers approved HCA Holdings' proposed acquisition of the Colorado Health Foundation's 40 percent interest in HCA-HealthONE. The Office of the Attorney General determined that the transaction is in the public interest and the $1.45 billion sale price is a fair market price.
14. Ozarks Medical Center, Fulton County Hospital in Missouri to Negotiate Management Agreement
Ozarks Medical Center in West Plains, Mo., and Fulton County Hospital in Salem, Ark., were scheduled to begin negotiations on a three-year management agreement the week of Oct. 17. Ozarks Medical Center will manage Fulton County Hospital's daily operations on an interim basis for 60 days without any management fees, during which time the two organizations will discuss a three-year management agreement.
15. Idaho's County-Owned Teton Valley Health to Convert to Non-Profit in 2012
Teton Valley Health Care, a county-run hospital in Driggs, Idaho, is slated to transition into a non-profit entity called TVH under Bingham Memorial Hospital in Blackfoot, Idaho. The board on county commissioners has agreed tot authorize the conversion, although officials said this is not a final contract. The process of converting the hospital is expected to take a year.
16. Illinois Review Board Approves Provena, Resurrection Merger
The Illinois Health Facilities and Services Review Board approved the merger of Mokena, Ill.-based Provena Health and Chicago's Resurrection Health Care. The merger is expected to be finalized on Nov. 1, making Provena the largest Catholic healthcare system in Illinois with 12 hospitals.
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1. New Jersey Signs Off on Sale of Hoboken University Medical Center
The state of New Jersey approved the sale of Hoboken University Medical Center to HUMC Holdco, a for-profit company. Under the terms of the sale, HUMC Holdco will pay off HUMC's debt and invest $20 million in improvements. The deal is expected to be finalized within the next week.
2. New York City's Continuum Health Partners and NYU Langone Medical Center May Partner
Executives from Continuum Health Partners and NYU Langone Medical Center, two of New York City's major hospital organizations, are in the early stages of partnership discussions. Executives have said the talks are preliminary and details of how the relationship will be structured remain undefined. Continuum runs Beth Israel Medical Center in Manhattan, an East Side competitor of NYU Langone.
3. Adventist to Take Over California's Sierra Kings Hospital
Hanford, Calif.-based Adventist Health Central Valley Network is taking over Sierra Kings District Hospital in Reedley, Calif. The deal was finalized Oct. 12 and Adventist will begin operating Sierra Kings Nov. 1. The name will change to Adventist Medical Center-Reedley. Adventist will assume Sierra Kings' lease for $800,000 a year while purchasing its rural clinics for $4.6 million and equipment for $3.7 million, to be paid on the closing date.
4. Pittsburgh's Highmark, West Penn Allegheny Close to Definitive Agreement
Pittsburgh-based Highmark and West Penn Allegheny Health System reached a verbal agreement on the terms and conditions of the payor's planned acquisition of the hospital system. A West Penn spokesperson said a definitive agreement is expected to be signed "very soon," with some reports suggesting it may be within the next week.
5. Washington's Olympic Medical Center First to Join Swedish Health Network
With its affiliation agreement approved, Olympic Medial Center in Port Angeles, Wash., will become the first member of Seattle-based Swedish Health Network on Nov. 1. Forks (Wash.) Community Hospital and Jefferson Healthcare of Port Townshend, Wash., are expected to approve their affiliation agreements next month. Under the agreements, the hospitals will remain locally owned and independent. The arrangement will expand certain medical services and specialties.
6. New Orleans' Methodist Hospital Seeks Private Partners
The public board heading the redevelopment of Methodist Hospital in New Orleans is seeking private partners who could help fund and potentially operate the facility, which is slated to open in fall 2013. An operating alliance was reached with Baton Rouge, La.-based Franciscan Missionaries of Our Lady Health System in January, but the agreement doesn't call for Franciscan to put up money needed to reopen the hospital. The request for proposals will be published in the coming weeks and aims to solicit a wide range of suitors.
7. Arkansas' Baxter Regional Medical Center May Manage Community Medical Center of Izard County
Baxter Regional Medical Center Mountain Home, Ark., is in negotiations to manage Community Medical Center of Izard County in Calico Rock, Ark. Baxter Regional hopes to have a management agreement in place with the 25-bed critical access hospital by Nov. 30.
8. Catholic Healthcare West Picks Community Health Systems to Buy Saint Mary's in Nevada
Catholic Healthcare West chose Community Health Systems as the potential buyer of Saint Mary's Regional Medical Center in Reno, Nev. The two systems are now in the due-diligence phase and any sale would be finalized in early 2012. If approved, the sale would turn the 380-bed hospital into a for-profit entity.
9. Steward, Landmark Medical Center Submit Merger Application
Boston-based Steward Health Care Systems and Landmark Medical Center in Woonsocket, R.I., submitted a formal application to merge. A health department spokesperson said officials now have 30 days to determine whether the application is complete and then 180 days to approve or deny it. For-profit Steward signed an agreement to buy Landmark for $71 million in June.
10. Fletcher Allen Health Care, Central Vermont Medical Center Announce Affiliation
Central Vermont Medical Center in Berlin and Fletcher Allen Health Care, based in Burlington, Vt., have announced that their boards gave final approval to a corporate affiliation between the two organizations that took effect Oct. 1. Under the new affiliation, the two organizations will operate under a new organization called Fletcher Allen Partners and will retain their current and separate identities.
11. Illinois' Advocate Christ Medical Center, MD Anderson Announce Affiliation
Advocate Christ Medical Center in Oak Lawn, Ill., formed an affiliation with MD Anderson Physicians Network. MD Anderson Physicians Network is a subsidiary of The University of Texas MD Anderson Cancer Center in Houston. Under this new partnership, The Cancer Institute at ACMC will use MD Anderson's protocols to provide patients with some of the most advanced treatment options.
12. County Officials to Consider Sale of IU Health Starke Hospital to IU Health LaPorte Hospital
Starke County officials are considering the sale of IU Health Starke Hospital in Knox, Ind., to IU Health LaPorte (Ind.) Hospital. LaPorte Hospital currently operates Starke Hospital under a lease agreement that was established in 2009. Hospital officials requested county officials to consider a sale of the hospital and property to LaPorte Hospital for $1 and a waiver of the 20-year $7.4 million lease. If LaPorte Hospital does not renew the lease agreement, Starke Hospital would have to cover the $7.4 million cost.
13. Colorado AG Approves HCA's Purchase of Colorado Health Foundation's Interests in HealthONE
Colorado Attorney General John Suthers approved HCA Holdings' proposed acquisition of the Colorado Health Foundation's 40 percent interest in HCA-HealthONE. The Office of the Attorney General determined that the transaction is in the public interest and the $1.45 billion sale price is a fair market price.
14. Ozarks Medical Center, Fulton County Hospital in Missouri to Negotiate Management Agreement
Ozarks Medical Center in West Plains, Mo., and Fulton County Hospital in Salem, Ark., were scheduled to begin negotiations on a three-year management agreement the week of Oct. 17. Ozarks Medical Center will manage Fulton County Hospital's daily operations on an interim basis for 60 days without any management fees, during which time the two organizations will discuss a three-year management agreement.
15. Idaho's County-Owned Teton Valley Health to Convert to Non-Profit in 2012
Teton Valley Health Care, a county-run hospital in Driggs, Idaho, is slated to transition into a non-profit entity called TVH under Bingham Memorial Hospital in Blackfoot, Idaho. The board on county commissioners has agreed tot authorize the conversion, although officials said this is not a final contract. The process of converting the hospital is expected to take a year.
16. Illinois Review Board Approves Provena, Resurrection Merger
The Illinois Health Facilities and Services Review Board approved the merger of Mokena, Ill.-based Provena Health and Chicago's Resurrection Health Care. The merger is expected to be finalized on Nov. 1, making Provena the largest Catholic healthcare system in Illinois with 12 hospitals.
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