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Jefferson Expands Again
Aria Health, a not-for-profit hospital system serving the residents of northeast Philadelphia and lower Bucks County, reached a definitive agreement with Jefferson, the system created last year through the merger of Jefferson Health and Abington Health. That transaction, announced in January 2015 and finalized in May, created an organization with five hospitals, 1,751 inpatient beds, seven outpatient centers and 3,370 physicians. This transaction with Aria adds three hospitals in Frankford, Torresdale and Oxford Valley with 485 licensed beds. Aria also holds an option to develop property on a 41-acre farm in Lower Makefield, Pennsylvania. Under terms of the agreement, Aria will be... Read More »
Hospital M&A in 2016
Mergers and acquisitions in the hospital sector had a good year in 2015, with 101 deals currently on record. That’s virtually equal to last year’s 99 transactions, and close to the most recent high of 107 deals in 2012. These numbers change, of course, as some deals that reached the definitive agreement stage eventually fall apart in subsequent months, or even years. At least two such deals had to be removed from our 2015 numbers, when agreements unraveled. The Federal Trade Commission is looking hard at a few others, but those wheels turn slowly and the challenged parties are still moving forward with their transactions. Looking ahead to 2016, the transactional landscape... Read More »Hospital M&A in 2015
It’s been a busy year for mergers and acquisitions in the Hospital sector, and it’s not over yet. Our preliminary figures show 101 transactions with a combined deal value of $8.7 billion. At least two announced transactions have been terminated, and there are still a few to track down, so those numbers will change. Of those 101 deals, 89 acquirers were other hospitals or health systems. One was a behavioral health company, Sovereign Health Group, which runs residential treatment centers for mental health and substance abuse patients through its affiliate, Ashland Properties LLC. Private equity firms made six acquisitions, and REITs made five. The largest of those REIT... Read More »WellSpan Ups Its Behavioral Health Offerings
The Behavioral Health Care sector has seen plenty of mergers and acquisitions this year. Deal volume is currently up 38% (33 deals) compared with 2014’s full-year total of 24 transactions. With six deals announced in December, the sector will close out the year on a high note. One deal has been in the works almost all year, and will become effective on January 1, 2016. WellSpan Health, a five-hospital system based in York, Pennsylvania, and Philhaven, a mental and behavioral health agency of the Lancaster Conference of the Mennonite Church USA, finalized their affiliation plans on December 17. Philhaven provides services throughout Lancaster, Lebanon, Dauphin, and York counties. The... Read More »Hutcheson Medical Center Avoids (Permanent) Closure
Hutcheson Medical Center is back in business, at least on paper. The 114-bed acute care facility in Fort Oglethorpe, Georgia, filed for Chapter 11 bankruptcy protection in November 2014, and was closed on December 4, 2015. There was still some hope that a buyer would emerge before Monday, December 14, when its license was scheduled to expire. At least two bidders showed up on Friday, December 11: Chicago-based People’s Choice Hospital, a boutique company that specializes in managing struggling healthcare systems, placed a $4.0 million bid for the main hospital campus. That was eventually topped by Atlanta-based private investment company, ValorBridge Partners, with a $4.2 million... Read More »Schedule a demo
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