Ventas Spins Off Ardent Health’s Hospital Operations
As expected, Ventas, Inc. (NYSE: VTR) transferred the majority of Ardent Health Service’s hospital operations to Equity Group Investments last week, in exchange for $475 million. Ventas retains the owned real estate of the 10 Ardent Health hospitals, which it acquired in April 2015 for $1.75 billion. Ventas retains a 9.9% interest, while EGI and current Ardent Health Services management share the remaining ownership stake. Read More »Nautic Partners Exits, HealthSouth Buys In
Nautic Partners made a grand exit last week as it sold Reliant Hospital Partners, LLC to HealthSouth Corporation (NYSE: HLS) for $730 million. Reliant operates a portfolio of 11 inpatient rehabilitation hospitals in Texas, Massachusetts and Ohio, plus three inpatient satellite locations in Massachusetts, for a total of 902 beds. All of the hospitals are leased. Operating entities at seven of the hospitals include minority limited partners whose interest represents less than 10% of the equity of the combined Reliant operating entities. HealthSouth will assume the lease obligations of all the acquired hospitals. Based on the structure of the transaction, it expects to realize a tax benefit... Read More »Acadia Healthcare Is Still on the Acquisition Trail
Acadia Healthcare (NASDAQ: ACHC) made its second acquisition of 2015 last week, adding three more facilities to its growing list of inpatient behavioral health care assets. Two of its targets are in the United Kingdom, where last year it picked up Partnerships in Care, the second-largest independent behavioral health care provider, for $662 million. This year Acadia acquired Care UK, which operates 15 inpatient facilities with approximately 300 beds, and Choice Lifestyles, a single facility with 42 beds. The third property is Belmont Behavioral Health, a 147-bed inpatient facility that was part of the not-for-profit Einstein Healthcare Network outside Philadelphia, Pennsylvania. The... Read More »Smith & Nephew Gets Some Help in the OR
Medical device maker Smith & Nephew plc (NYSE: SNN) acquired two surgical software applications, Virtual BackTable® and TrayTouch®, from privately held S2 Interactive. Both of the applications are used by Syncera, Smith & Nephew’s new orthopedic supply chain model for hospitals and ambulatory surgery centers (ASCs). They allow hospital and ASC administrators to access, analyze and manage real-time data related to instrument use during surgery. Arthroplasty surgery can involve as many as 20 trays holding a total of 200 or more instruments, all of which need to be counted, cleaned, inspected, assembled and sterilized before every surgery. Read More »St. Joseph’s Finally Says Yes to Trinity Health
What began as a strategic affiliation agreement in early 2014 finally blossomed into full commitment. St. Joseph’s Hospital Health Center, a 431-bed acute care hospital in Syracuse, New York, agreed to become part of Trinity Health’s national organization. Trinity already operates in other areas of the state, through Catholic Health in Buffalo and St. Peter’s Health Partners in Albany. Next steps for its latest addition include a transition team. Read More »Schedule a demo
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