MountainStar Healthcare Acquires Steward Health Care Utah Portfolio
MountainStar Healthcare, the Utah-based headquarters of HCA Healthcare’s Mountain Division, has acquired five Utah hospitals from Steward Health Care, expanding its presence in the West. Founded in 2006, MountainStar Healthcare is an integrated system of hospitals, physician clinics and outpatient centers that is making healthcare more accessible and convenient. MountainStar’s eight hospitals and numerous care centers serve the Wasatch Front, from Logan to Payson and beyond, with care also available throughout Salt Lake County, Weber County, Davis County and Utah County. Steward Health Care is the largest physician-owned private for-profit health care network in the United... Read More »
NorthShore University HealthSystem & Edward-Elmhurst Health Merge
Two Illinois-based health systems have announced they are merging. Edward-Elmhurst Health, a not-for-profit health system, is joining NorthShore University HealthSystem, another not-for-profit system located in the Chicago market. Edward-Elmhurst Health is a 736-bed system that includes two hospitals and one behavioral health hospital and has more than 60 outpatient locations across Chicago’s west and southwest suburbs. The hospitals are Edward Hospital, Elmhurst Hospital and Linden Oaks Behavioral Health. Edward-Elmhurst generated $1.14 billion in revenue in 2020 and $62.27 million in EBITDA. NorthShore, for its part, generates around $1.5 billion in annual revenues, according to the... Read More »
Select Medical and Northwest Healthcare Acquire Hospital in Tuscon
Last week, Select Medical and Northwest Healthcare announced a definitive agreement to form a joint venture and acquire Curahealth Tucson. No purchase price or hospital financials were disclosed. Curahealth Tucson is a 47-bed long-term acute care hospital owned by Community Health Systems (NYSE: CYH), which is divesting the hospital. Northwest Healthcare is an integrated healthcare provider in Tucson, and includes multiple hospitals and clinics, such as Northwest Medical Center, Oro Valley Hospital, Northwest Medical Center Sahuarita, Northwest Emergency Centers in Vail and Marana, three Northwest Urgent Care locations, Northwest Women’s... Read More »
Steward Health Acquires Five Tenet Hospitals
Back in June 2020, a management group of Steward Health Care physicians acquired a controlling stake in the health system and assumed ownership from its founding owner, Cerberus Capital Management. It was a significant move; one of the largest privately owned hospital chains in the United States became physician-owned. And now, Steward announced this week it is acquiring a portfolio of five hospitals from Tenet Healthcare Corporation (NYSE: THC) in Florida for $1.1 billion. It is the first acquisition for Steward Health since finalizing full physician control and leadership of the organization. The five hospitals included in the sale are Coral Gables Hospital (245 beds), Hialeah Hospital... Read More »