HCA Healthcare Divests 4 Georgia Hospitals
The for-profit health system HCA Healthcare is downsizing, selling four hospitals in a deal valued at $950 million. The buyer is Piedmont Healthcare, a not-for-profit hospital system based in Atlanta, Georgia. The four hospitals are Eastside Medical Center (310 beds, Snellville), Cartersville Medical Center (119 beds, Cartersville), and Coliseum Health System, which includes two acute care hospitals (310-bed Coliseum Medical Centers and 103-bed Coliseum Northside). Coliseum Health System also houses the Coliseum Center for Behavioral Health, a 40-bed inpatient behavioral health facility in Macon, which was included in the deal. ... Read More »
HCA Healthcare Adds Meadows Regional Medical Center
The Hospital market is off to a strong start in 2021, with seven deals on the books in January. The health system giant, HCA Healthcare (NYSE: HCA), just announced the largest deal in the sector by price. HCA purchased Meadows Regional Medical Center, a 52-bed community hospital in Vidalia, Georgia from Meadow Health Alliance, Inc. for $73 million. A letter of intent was filed in September 2019, and the Toombs County Hospital Authority and Meadow Health Alliance have approved the sale. Meadow Health Alliance generated $153.6 million in revenue in 2019 and estimated $9.63 million EBITDA. Meadows Regional will be HCA’s 10th hospital in Georgia. This deal is expected to close on or before... Read More »
Aspirus Buys Portfolio of Ascension Hospitals
Ascension Wisconsin, part of the Ascension health system, is divesting seven hospitals (total of 264 beds) in north and central Wisconsin. Three are acute care hospitals, and four are designated as critical access hospitals. The buyer is Aspirus, a nonprofit rural health service with six hospitals in Wisconsin and four in Michigan, 50 clinics, home health and hospice care, pharmacies, critical care and air-medical transport, nursing homes and a broad network of physicians. No terms were disclosed, but the seven facilities generated $392.2 million revenues for the fiscal year of 2019 and $73.8 million in EBITDA. The divestment includes Eagle River Hospital in Eagle River (14 beds); Good... Read More »
What a Year It Was for Hospital M&A
The U.S. hospital system has had a stress-filled year, to say the least. By mid-December 2020, the nation’s death toll from the coronavirus topped 300,000 and daily hospitalizations closed in on 11,000. Front-line healthcare workers began receiving the Pfizer-BioNtech vaccine and Dr. Anthony Fauci, the nation’s top infectious disease expert, told MSNBC in an interview that the timeline for a return to normalcy stretched well into 2021. Not surprisingly, the hospital merger and acquisition landscape shifted, but it didn’t buckle. Overall, deals for hospitals are down 26% through mid-December (73 vs. 99 in 2019). For U.S. hospitals, deal volume dropped 16% (66 U.S. deals... Read More »
Tenet Healthcare Acquires 45 ASCs For More Than $1 Billion
Tenet Healthcare Corporation (NYSE: THC) has significantly expanded its ambulatory surgery platform with a new acquisition. The Texas-based health system has purchased a portfolio of 45 ambulatory surgery centers (ASCs) located in Arizona, Florida, Indiana, Louisiana, Maryland, New Hampshire, Ohio, Texas and Wisconsin from SurgCenter Development (SCD), which partners with local surgeons to create physician-owned and physician-operated ASCs. Tenet Healthcare will buy the majority interests by fully acquiring SCD’s interests, and partially acquiring interests from physician partners, for $1.1 billion in cash and the assumption of approximately $18 million of center-level debt. The ASCs will... Read More »