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13 healthcare mergers and acquisitions making headlines in June
Here is a summary of hospital and healthcare merger and acquisition-related transactions from June:
1. Christus Health will acquire Gerald Champion Regional Medical Center in Alamogordo, N.M., effective July 1.
Gerald Champion Regional is an independent, nonprofit, sole community level III trauma hospital. It employs or contracts with approximately 160 providers and 1,000 staff and conducts more than 30,000 ER visits, 150,000 clinic visits and 4,000 admissions per year.
2. American Healthcare Systems has purchased Wilson N. Jones Regional Medical Center, a 214-bed hospital in Sherman, Texas, KXII reported June 28.
The Los Angeles-based healthcare operator has already started to make improvements at the hospital, including providing necessary supplies and medication, its CEO, Mike Sarian, PhD, told the news station.
3. Bonifay, Fla.-based Doctors Memorial Hospital plans to purchase Healthmark Regional Medical Center, a 50-bed hospital in Defuniak Springs, Fla., that closed in March 2022, mypanhandle.com reported June 28.
Doctors Memorial, which includes more than 100 medical, nursing, support and allied health professionals, plans to reopen the hospital on Jan. 1, according to the report. It will be capable of providing emergency services, orthopedics, dental surgery and other specialty care.
4. Philadelphia-based Penn Medicine agreed to acquire the shuttered Coatesville, Pa.-based Brandywine Hospital from West Reading, Pa.-based Tower Health, Philadelphia Business Journal reported June 27.
Tower Health first announced the closure of Brandywine in December 2021 in an effort to cut costs. Penn signed a letter of intent to purchase the 171-bed hospital by the end of 2023.
5. The boards of Washington (Pa.) Health System and Pittsburgh-based UPMC signed a letter of intent to negotiate a deal that would integrate WHS into UPMC.
The signing of the letter of intent means WHS and UPMC have agreed to conditions of affiliation. In the coming months, both entities will engage in due diligence, research and discussions to work toward a definitive agreement.
6. Altus Community Healthcare, a portfolio company of private equity firm ZT Corporate, acquired Exceptional Emergency Center, a system of 14 emergency rooms across Texas.
The acquisition makes Altus Community Healthcare the largest operator of freestanding ERs in Texas, with 30 in its portfolio, according to a June 16 ZT Corporate news release.
7. The long-awaited incorporation of Exeter (N.H.) Health Resources into Cambridge, Mass.-based Beth Israel Lahey Health took a major step forward after the New Hampshire attorney general’s office agreed to the transaction.
The two systems agreed to merge in June 2022, with regulatory approvals at the time expected to take several months. The merger became effective July 1.
8. Fort Wayne, Ind.-based Parkview Health System is to acquire Bryan, Ohio-based Community Hospitals and Wellness Centers, according to a June 8 filing.
The 10-hospital system, which reported operating income of $61.2 million on revenues of $2.7 billion in 2022, expects to close the acquisition by Sept. 1.
9. Columbia-based University of Missouri Health Care signed a letter of intent to acquire Jefferson City, Mo.-based Capital Region Medical Center.
The organizations are working to reach a definitive agreement in the coming months, and the integration details are expected to be finalized by the end of this year, subject to University of Missouri and Capital Region board approvals, according to a June 8 University of Missouri news release.
10. Sayre, Pa.-based the Guthrie Clinic has agreed to acquire the Binghamton, N.Y.-based Our Lady of Lourdes Memorial Hospital system.
Financial terms of the deal were not immediately disclosed, but the transaction involves the transfer of ownership from St. Louis-based Ascension.
The Guthrie Clinic, a five-hospital system that has operations in its home state and in New York, would acquire all the current Our Lady of Lourdes services.
11. Roseville, Calif.-based Adventist Health has acquired the Bakersfield Heart Hospital for a nominal sum and is aiming to save 300 jobs there in doing so, according to a June 6 report from The Bakersfield Californian.
The 47-bed hospital had been owned by local physicians for several years, but financial losses due to the pandemic forced a sale, the report said.
12. Inova Health System has acquired Annandale, Va.-based Northern Virginia Pulmonary and Critical Care Associates, which comprises nine physicians and two locations, according to the Washington Business Journal.
The Falls Church, Va.-based health system acquired the physician group and created Inova Pulmonology — a division specializing in lung diseases and related care.
13. Charleston, W.Va.-based Vandalia Health is looking to continue its growth in the state with a plan to incorporate Elkins, W.Va.-based Davis Health into its system.
The two health systems have signed a letter of intent for the three-hospital Davis Health to join nine-hospital Vandalia Health, itself the product of a merger between Mon Health System and the Charleston Area Medical Center.
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