Hospital merger and acquisition deal volume and spending was up year over year in the second quarter of 2019, but the pace of for-profit hospital divestitures is slowing, according to data from HealthCareMandA.com.
Five things to know:
1. Nineteen hospital transactions were reported in the second quarter of this year, up 27 percent from the same period of 2018, according to the report.
2. Based on disclosed prices, spending on hospital transactions was more than 800% higher in the second quarter of 2019 than in the same period of last year.
3. Nine of the 19 transactions announced in the second quarter of this year involved the acquisition of hospitals with 100 beds or fewer.
4. Franklin, Tenn.-based Community Health Systems and Brentwood, Tenn.-based Quorum Health divested underperforming hospitals in noncore markets during the second quarter of 2019. CHS divested four hospitals and Quorum sold one community hospital.
5. Privately held KPC Healthcare's $610 million acquisition of four hospitals from El Segundo, Calif.-based Verity Health was the largest transaction that closed in the second quarter of this year, according to the report.
More articles on healthcare industry transactions:
Bon Secours Mercy Health CEO talks Ireland merger: 'Blood is thicker than water'
Maryland health system to acquire 3rd hospital
Tenet makes bid for California hospital