Ardent Health Buys 18 Urgent Care Clinics in New Mexico and Oklahoma
Ardent Health kicked off the new year with an acquisition. The Nashville, Tennessee-based health system announced on January 3 that it has acquired 18 urgent care clinics across New Mexico and Oklahoma from Mesa, Arizona-based NextCare Urgent Care. Ardent Health, backed by Chicago-based private equity firm Equity Group Investments, is a leading healthcare provider in growing mid-sized urban communities across the United States. Through its subsidiaries, the company delivers care through a system of 30 acute care hospitals and more than 200 sites of care with more than 1,800 affiliated providers across six states. The six New Mexico urgent care clinics will operate as part of Lovelace... Read More »
Top 5 U.S. Hospital Deals of 2024
Hospital M&A activity has remained stable in the past few years, and based on preliminary results for 2024, it seems like the market kept the same pace. With only a couple of days before Christmas, there have been 67 Hospital deals announced, a marginal difference from the 75 announced in 2023 and 68 in 2022. Much of the activity has been driven by divestment from health systems, such as Tenet Healthcare, or from the bankruptcy proceedings of Steward Health Care. However, there was still a mix of health system mergers, community hospitals seeking larger partners, and deals in the international market. We plan to dig through the numbers and details in our upcoming Health Care Services... Read More »
Blount Memorial Hospital Joins Prisma Health
After months of negotiations, Blount Memorial Hospital has finally joined Prisma Health’s network of hospitals. Blount Memorial Hospital is a 304-bed nonprofit community hospital serving Blount County and East Tennessee. According to cost report data, the hospital generated approximately $326 million in net patient revenue in 2023 but suffered an EBITDA loss of $245,000. The deal has received unanimous approvals from the Blount Memorial Hospital Board and the Blount County Commission, as well as approval from Tennessee Attorney General Jonathan Skrmetti. Blount Memorial is the first hospital outside South Carolina to join Prisma Health, one of the largest health systems in that... Read More »
Academic Medical Centers Push Further into the M&A Market
Health systems have kept busy in 2024, building up their hospital portfolio and expanding into the post-acute care space. Through October 31, they have announced 113 deals, which puts activity on pace to break the 2023 total of 117 deals. The uptick in activity can partly be attributed to investment strategies stemming from academic medical centers (AMCs), which have played a larger role in the healthcare M&A space over the past few years. In 2023, AMCs announced 22 deals; through October 31, there have already been 24 deal announcements. For context, in 2019, there were only 15 acquisitions from AMCs, most of them transactions for a single hospital. ... Read More »
Hospital M&A Activity Surges in July & August
For the past six weeks, players in the health system and hospital M&A market seem to be running a marathon, with 12 deals so far on the books. There has been a flurry of activity, ranging from divestments to larger system mergers. Many of these deals are unsurprising, often resulting from a years-long plan of a health system’s promise to balance its portfolio. Let’s look at some of the most notable hospital M&A activity of the third quarter (so far). Ascension divests in Illinois In late July, Missouri-based Ascension sold eight hospitals in Illinois and related post-acute and senior living facilities, which all comprise Ascension Illinois. Collectively, the eight hospitals... Read More »Schedule a demo
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