Tenet Sells Struggling Philly Hospitals for $170 Million

Tenet Sells Struggling Philly Hospitals for $170 Million

Hospital deals are hopping in Philadelphia, this week. Last week, we reported on the merger of UPMC and PinnacleHealth, which brought Pittsburgh-based UPMC into the south central part of the state, where PinnacleHealth is strong. Now Tenet Healthcare (NYSE: THC) is selling two Philadelphia-based hospitals and other related operations to a new subsidiary of Paladin Healthcare, and a healthcare real estate investment trust (REIT). The deal involves Tenet’s Hahnemann University Hospital, St. Christopher’s Hospital for Children, and two Tenet-owned physician practices. The buyer is American Academic Health System, LLC (AAHS), newly formed by Paladin to own and operate academic... Read More »

The FTC’s Recent Losses in Hospital M&A

The Federal Trade Commission’s antitrust unit has been very active in the health care sector in recent years, thanks in part to the steady beat of hospital mergers and acquisitions taking place. In 2015, 102 hospital transactions were announced, up slightly from 99 the year before. Halfway through 2016, we’ve recorded 48 hospital deals, which is keeping pace with the two previous years. The FTC challenged a few of those deals, including the NorthShore University Hospital/Advocate Health Care merger in Chicago and the Penn State Hershey Medical Center/PinnacleHealth System in Pennsylvania. The agency has notched up some significant wins in years past, most recently the December... Read More »