Three for-profit hospital operators entered into several transactions in recent months. Some of the companies are selling facilities to strengthen their hospital portfolios, while others are exploring ways to expand their reach.
Below is a breakdown of the transactions the for-profit hospital companies have entered into since Nov. 1.
Community Health Systems
Jan. 1: Franklin, Tenn.-based Community Health Systems completed the sale of its three Virginia hospitals on Jan. 1, 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.
HCA Healthcare
Jan. 10: Nashville, Tenn.-based HCA Health 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.
Jan. 7: HCA announced it acquired a majority stake in 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.
Nov. 12: A division of HCA sold a 65-bed long-term care hospital to a Dallas-based specialty hospital operator.
Tenet Healthcare
Dec. 12: Dallas-based Tenet Healthcare entered into a definitive agreement to sell its hospitals and other facilities in the Memphis, Tenn., area to Methodist Le Bonheur Healthcare. Tenet agreed to sell the hospitals and other assets to Memphis-based Methodist Le Bonheur Healthcare for $350 million in cash, according to a filing with the Securities and Exchange Commission.