Yesterday, Franklin, Tenn.-based Community Health Systems announced its fourth-quarter profit more than doubled to $62.6 million, and company executives said they plan to expand CHS even further this year with "three to four targeted hospital acquisitions."
At the end of 2012, CHS managed 135 acute-care hospitals across its 29-state network. Last year, the for-profit hospital operator acquired four hospitals: MetroSouth Medical Center in Blue Island, Ill., Memorial Hospital in York, Pa., Moses Taylor Hospital in Scranton, Pa., and Mid-Valley Hospital in Peckville, Pa.
CHS executives appeared committed to matching last year's hospital transaction total despite the fact the company is bracing for anticipated effects of sequestration. If the government can agree to a deal by March 1, Medicare will be cut across the board, meaning hospitals will lose billions in reimbursements. CHS expects sequestration would cut 0.3 percent to 0.8 percent of net revenue in 2013.
At the end of 2012, CHS managed 135 acute-care hospitals across its 29-state network. Last year, the for-profit hospital operator acquired four hospitals: MetroSouth Medical Center in Blue Island, Ill., Memorial Hospital in York, Pa., Moses Taylor Hospital in Scranton, Pa., and Mid-Valley Hospital in Peckville, Pa.
CHS executives appeared committed to matching last year's hospital transaction total despite the fact the company is bracing for anticipated effects of sequestration. If the government can agree to a deal by March 1, Medicare will be cut across the board, meaning hospitals will lose billions in reimbursements. CHS expects sequestration would cut 0.3 percent to 0.8 percent of net revenue in 2013.
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