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 »
XRL ALC Closes $9.6 Million Bridge Transaction for Blountstown, Florida Hospital
XRL ALC, LLC (XRA), an affiliate of X-Caliber Rural Capital, in collaboration with American Lending Center (ALC), has successfully closed a $9.6 million bridge loan for Calhoun-Liberty Hospital in Blountstown, Florida. The funding, part of an $82 million initiative, aims to revamp and enhance medical services for residents across Calhoun, Liberty, Jackson and Gulf County. The two-year, interest-only loan fills a crucial gap until the hospital accesses approximately $30 million in approved grants earmarked for the project. Currently offering emergency room services, in-patient care, laboratory, radiology and respiratory services, the hospital also houses a rural health clinic. “We are... Read More »
Intermountain Medical Imaging Purchases Saltzer Health Imaging
Intermountain Medical Imaging announced on April 1 that it is acquiring Saltzer Health Imaging from Saltzer Health. Saltzer Health Imaging is an imaging center located in the Ten Mile Clinic and near I-84 in Meridian, Idaho. This news comes the same week Saltzer Health announced the sale of three facilities to Boise, Idaho-based Saint Alphonsus Health System after the group was closed March 29 by Salt Lake City-based Intermountain Health. Those facilities included two urgent care centers in South Nampa and Meridian, Idaho, and an ambulatory surgery center in Meridian, Idaho. Intermountain Medical Imaging is a comprehensive outpatient radiology imaging center with three locations in the... Read More »Schedule a demo
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