St. Joseph’s Finally Says Yes to Trinity Health

by | May 4, 2015 4:29 pm | Hospitals

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 »

Nonprofit vs.For-profit Hospital M&A Trends, 2005 to 2014

by | Apr 20, 2015 4:09 pm | Hospitals

We get a lot of requests for updates to a chart of our data that appeared in the New York Times in August 2013. The accompanying story was about the growing consolidation of for-profit and not-for-profit systems. This week, we oblige our readers with an update to that data. And while for-profit consolidation was all the rage in the summer of 2013, it’s the fall-out from that wave of consolidation that is driving the smaller deals in 2014 and into 2015.  Read More »

Ventas Buys Hospitals and Spins off SNFs

by | Apr 13, 2015 3:54 pm | Hospitals

Ventas, Inc. (NYSE: VTR) had a busy week, as it paid $1.75 billion for Ardent Health Services, one of the 10 largest for-profit hospitals companies in the United States, from Welsh, Carson, Anderson & Stowe. The plan is to separate Ardent’s hospital operations from its owned real estate and sell the operations to one or more newly formed entities owned by Ardent’s current management. The same day, VTR announced plans to spin off most of its post-acute and skilled nursing facility portfolio into an independently traded REIT called SpinCo, which will own 355 high-quality, triple-net leased SNFs and other healthcare assets operated by 44 private regional and local care... Read More »

Hospital Mergers Heat Up in April

by | Apr 13, 2015 3:43 pm | Hospitals

Last week brought word that Boston Medical Center and Tufts Medical Center were moving ahead with merger talks and expect to have a deal by the end of this year. The parties announced they were exploring a merger last December. That news came two days after Massachusetts Attorney General Maura Healey and House Majority Leader Ron Mariano announced legislation that would give more power to the state’s Health Policy Commission in its reviews of hospital mergers and acquisitions. No such headaches exist in New Jersey, where Meridian Health Systems, which operates six hospitals, merged with financially troubled Raritan Bay Health Services Corp., a two-hospital system. Meridian is still in... Read More »

Another Record Falls in Q1:15

by | Apr 4, 2015 3:19 pm | Behavioral Health Care, Biotechnology, Home Health & Hospice, Hospitals, Laboratories, MRI & Dialysis, Long-Term Care, Managed Care, Medical Devices, Other Services, Pharmaceuticals, Physician Medical Groups, Rehabilitation

Now that the month is officially over, we can report our preliminary Q1:15 results—and it was another record breaker, at least for transactions. The 346 deals logged so far are 109% higher than the first quarter of 2014. You would think that the $104.7 billion in combined spending would set another record, but no. In Q1:09, we tracked $127.2 billion spent on 202 deals. That’s when Pfizer (NYSE: PFE) bought Wyeth for $68 billion.  Here’s the preliminary breakdown of Q1:15 — and remember, the spending is only for deals that disclosed prices. Read More »

Fortis Sells its Singapore Surgical Hospital

by | Mar 30, 2015 2:26 pm | Hospitals

Fortis Healthcare International Pte Ltd, a subsidiary of Fortis Healthcare Ltd (BSE: FORTIS), sold its Fortis Surgical Hospital in Singapore to Beijing-based Concord Medical Services Holdings Limited (NYSE: CCM). The 31-bed hospital sold for $39.8 million, or $1.28 million per bed. Concord plans to rename the facility the Singapore Concord Cancer Hospital, and to add more medical specialties, such as oncology, cardiology, respiratory, dermatology, renal medicine and more. Read More »