LifePoint Health Goes Private with Apollo Global Management
More for-profit hospitals are landing in the hands of private equity firms. On July 23, LifePoint Health, Inc. (NASDAQ: LPNT) announced its acquisition by private equity firm Apollo Global Management (NYSE: APO) for $5.6 billion. It will be merged with Apollo’s portfolio company, RCCH HealthCare Partners. The deal takes LifePoint Health private, although the combined company will operate under the LifePoint Health name and will be led by LifePoint’s current chairman and CEO, William F. Carpenter III. The combined company will have 84 non-urban hospitals in 30 states, pro forma 2017 revenues of more than $8 billion, as well as 7,000 affiliated physicians, approximately 60,000... Read More »
Lourdes Health Merges with Virtua
In early June, the boards of Virtua Health and Maxis Health System, an entity of Trinity Health, signed a definitive agreement to merge Maxis Health’s Lourdes Health System with Virtua. Virtua Health operates three hospitals in South Jersey, as well as the 500-physician Virtua Medical Group, eight urgent care centers, multiple ambulatory surgery centers, home health services, long-term care and rehabilitation centers. Lourdes Health System, based in Camden, New Jersey, is one of the region’s leading healthcare providers. It consists of two hospitals, Our Lady of Lourdes Medical Center (257 beds) in Camden, Lourdes Medical Center of Burlington County (122 beds), Lourdes Medical... Read More »
U.S. Hospital Transaction Trends, at Mid-Year
It just might be “the pause that refreshes.” Or it could be the beginning of a painful contraction in the hospital market. In the first five months of 2018, 34 deals—representing definitive agreements and closures—have been announced. That’s the same number reported in the first five months of 2017. The difference lies behind the number of deals, of course. In the first five months of 2017, several large hospital systems merged or were acquired. Among the deals were Mississippi Baptist Health System (four hospitals) and Baptist Memorial Health (17 hospitals); IASIS Healthcare (17 hospitals) and Steward Health Care (18 hospitals); and Steward Health’s acquisition of eight hospitals from... Read More »
Centegra Health Joins Northwestern Memorial
Around 40 hospital deals have been announced in 2018, through May 25, and all but four have targeted a standalone hospital (including seven critical access hospitals). The largest hospital deal announced in May, based on the number of hospitals involved, was the merger of Centegra Health System’s three hospitals with Northwestern Memorial HealthCare, a seven-hospital system based in Chicago, Illinois. Centegra operates three hospitals in McHenry County, where it is the largest employer. They are Centegra Health Huntley (128 beds), Centegra Health McHenry (151 beds) and Centegra Health Woodstock (72 beds). Northwestern Memorial has seven hospitals in Chicago and its surrounding... Read More »
Healthcare Services Roundup through April 2018
It’s been quite a year for healthcare deals in general, with nearly 600 announced transactions in the first four months. That’s 7% more than there were announced in the first four months of 2017. Dollar volume has soared, too. In 2018, $141.8 billion has already been committed to fund the 588 transactions. Thanks to some mega-billion-dollar deals in 2018, the total is 30% greater than the nearly $109 billion spent in the same period of 2017. Collectively, the Services sectors are booming, which isn’t always the case. Services deals made up 63% of all deals in the first four months of 2018, and 57% of the disclosed dollars, now at $81.3 billion. The Technology sectors... Read More »Schedule a demo
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