The number of hospital and health systems mergers and acquisitions announced in the first quarter was substantially higher than the same period in 2023, according to an April 1 report by Cain Brothers, a division of Key Banc Capital Markets.
Eighteen transactions with $10 billion in total revenues for the targets were announced in the first quarter of 2024, compared to 12 deals with $3.4 billion in revenues for the targets in the first quarter of 2023, according to the report.
The 81 deals announced in the last 12 months is the highest in recent years, highlighting the increasing momentum of hospital and health system M&As nationwide. Seventy-five transactions were announced in 2023, compared to 59 in 2022 and 64 in 2021.
Hospital and health system M&As announced in Q1:
|
Seller |
Revenue |
Buyer |
Revenue |
|
|
Weirton (W.Va.) Medical Center |
$192 million |
WVU Health System (Morgantown, WVa.) |
$4.5 billion |
|
|
Ascension Michigan (3 hospitals) |
$360 million |
MyMichigan (Midland) |
$1.2 billion |
|
|
Nacogdoches (Texas) Memorial Health |
$76 million |
Nacogdoches County Hospital District |
N/A |
|
|
Fulton County Hospital (Salem, Ark.) |
$11 million |
Baxter Health (Mountain Home, Ark.) |
$286 million |
|
|
Tenet's Central Coast (2 California hospitals) |
$307 million |
Adventist Health (Roseville, Calif.) |
$4.8 billion |
|
|
Nuvance Health (Danbury, Conn.) |
$2.5 billion |
Northwell Health (New Hyde Park, N.Y.) |
$15.4 billion |
|
|
Evangelical Community Hospital (Lewisburg. Pa.) |
$249 million |
WellSpan Health (York, Pa.) |
$3.7 billion |
|
|
Ascension Via Christi Hospital (Pittsburg, Kan.) |
$100 million |
Mercy (St. Louis) |
$8 billion |
|
|
Helena Regional Medical Center (Helena-West Helena, Ark.) |
$13 million |
Progressive Health Systems (Oxford, Miss.) |
N/A |
|
|
M Health Fairview University of Minnesota Medical Center (Minneapolis) |
$1.9 billion |
University of Minnesota |
N/A |
|
|
Tenet's Pacific Coast Network (4 Southern California hospitals) |
$1 billion |
UCLA Health (Los Angeles) |
$19.3 billion |
|
|
Saint Peter's Healthcare (New Brunswick, N.J.) |
$583 million |
Atlantic Health (Morristown, N.J.) |
$3.7 billion |
|
|
West Hills Hospital and Medical Center (Los Angeles) |
$225 million |
UCLA Health (Los Angeles) |
$19.3 billion |
|
|
LaPorte (Ind.) Hospital |
$8 million |
Franciscan Alliance (Mishawaka, Ind.) |
$3.2 billion |
|
|
Summa Health (Akron, Ohio) |
$1.9 billion |
General Catalyst / HATCo |
N/A |
|
|
Doylestown (Pa.) Health |
$400 million |
Penn Medicine (Philadelphia) |
$9.9 billion |
|
|
DeKalb Regional Medical Center (Fort Payne, Ala.) |
$60 million |
Huntsville (Ala.) Hospital Health |
$1.8 billion |