Three for-profit hospital operators entered into more than a dozen transactions this year.
Below is a breakdown of the acquisition and divestiture agreements that Nashville, Tenn.-based HCA Healthcare, Franklin, Tenn.-based Community Health Systems and Dallas-based Tenet Healthcare entered into since Jan. 1.
Community Health Systems
Jan. 1: Community Health Systems completed the sale of its three Virginia hospitals, roughly two months after entering into a definitive agreement with Cincinnati-based Bon Secours Mercy Health. The following hospitals were included in the transaction: 300-bed Southside Regional Medical Center in Petersburg, 105-bed Southampton Memorial Hospital in Franklin and 80-bed Southern Virginia Medical Center in Emporia.
May 1: CHS completed the divestiture of 49-bed Shands Starke (Fla.) Regional Medical Center and 25-bed Shands Live Oak (Fla.) Regional Medical Center to HCA Healthcare, roughly three months after the parties entered into a definitive agreement. Under the agreement, CHS ended inpatient and non-emergency services at the two hospitals before the deal closed.
July 1: CHS completed the sale of Northern Louisiana Medical Center in Ruston to Allegiance Health Management. With the sale complete, CHS no longer operates any hospitals in Louisiana.
July 1: CHS completed the sale of St. Cloud (Fla.) Regional Medical Center to Orlando (Fla.) Health. The organizations completed the transaction about two months after entering into a definitive agreement. Under the deal, CHS sold its majority ownership in 84-bed St. Cloud Regional to Orlando Health, which held minority ownership for more than 15 years.
Oct 1: CHS completed the divestiture of 480-bed Bayfront Health St. Petersburg (Fla.) to Orlando Health.
Oct. 23: CHS completed the divestiture of 171-bed San Angelo (Texas) Community Medical Center to Shannon Health System in San Angelo. The organizations completed the transaction about seven months after entering into a definitive agreement.
Oct. 27: CHS completed the sale of 231-bed Abilene (Texas) Regional Medical Center and the 188-bed Brownwood (Texas) Regional Medical Center to Abilene-based Hendrick Health System.
HCA Healthcare
Jan. 7: HCA Healthcare announced it acquired a majority stake in Louisville, Ky.-based Galen College of Nursing, a multistate nursing school. Galen and HCA will work together to provide students with access to nursing education at five campuses and through online courses.
Jan. 10: HCA announced it acquired Valify, a Frisco, Texas-based company that offers a web-based platform to help healthcare organizations identify opportunities to cut costs. HCA said it will use Valify's analytics and benchmarking tools to identify and pursue opportunities to reduce the cost of providing healthcare services.
March 1: HCA announced it completed the acquisition of Frisbie Memorial Hospital, a 112-bed hospital in Rochester, N.H. Frisbie Memorial is HCA's third facility in New Hampshire.
May 1: HCA acquired 49-bed Shands Starke (Fla.) Regional Medical Center and 25-bed Shands Live Oak (Fla.) Regional Medical Center from CHS. HCA is operating the two facilities as off-campus emergency departments of Lake City (Fla.) Medical Center and North Florida Regional Medical Center in Gainesville.
Oct. 1: HCA announced it sold Garden Park Medical Center in Gulfport, Miss., to Pascagoula, Miss.-based Singing River Health System. The hospital was renamed Singing River Gulfport after the deal was finalized.
Tenet Healthcare
Dec. 10: Tenet Healthcare announced it is acquiring up to 45 ambulatory surgery centers from Towson, Md.-based SurgCenter Development. Under the deal, Tenet will pay about $1.1 billion in cash and assume approximately $18 million in debt.
Dec. 18: Tenet announced it will sell its urgent care business to Scottsdale, Ariz.-based FastMed Urgent Care. Under the deal, FastMed will acquire all 87 urgent care centers from Tenet, which operate under the CareSpot and MedPost brands. The centers are managed by Tenet's United Surgical Partners International subsidiary.