In the first quarter of this year, there were 23 hospital mergers and acquisitions, a 9.5 percent increase compared to the 21 deals announced in the first quarter of 2013.
Those figures come from a new Kaufman Hall report. Nearly all of the transactions (20) involved a nonprofit hospital or health system as the target. Fifteen of those deals were nonprofit-to-nonprofit transactions, while for-profit systems acquired five nonprofit organizations.
In addition, operating revenue of the acquired hospitals in the first quarter totaled $5.5 billion, according to Kaufman Hall.
Here were some of the largest deals in the first quarter:
• Beaumont Health System in Royal Oak, Mich., Oakwood Healthcare in Dearborn, Mich., and Botsford Health Care in Farmington Hills, Mich., signed a letter of intent to combine their assets, liabilities and operations under one nonprofit system.
• Brentwood, Tenn.-based Duke LifePoint Healthcare signed a letter of intent to acquire Conemaugh Health System in Johnstown, Pa., giving the system its first presence in Pennsylvania.
• Northwestern Memorial HealthCare in Chicago and Cadence Health in Winfield, Ill., signed a letter of intent to merge.
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