Top 5 Hospital Deals of 2023
The Hospital M&A market experienced an uptick in activity in 2023, with preliminary numbers at 71 deals, compared with 68 in 2022. There was a wide range of deals, from bankruptcy sales of single community hospitals to mergers of multi-state health systems. Here are the top five Hospital deals of 2023. Novant Health System, a not-for-profit integrated system based in North Carolina, purchased three hospitals in South Carolina from Tenet Healthcare Corporation for $2.4 billion. The transaction includes Hilton Head Hospital in Beaufort County, Coastal Carolina Hospital in Jasper County, and East Cooper Medical Center in Charleston County, as well as associated physician practices and... Read More »
American Hospital Association’s Advancing Health: A National Staffing Emergency in Rural Health Care
The American Hospital Association released an episode of their podcast, “Advancing Health” entitled A National Staffing Emergency in Rural Health Care. The conversation is led by Kevin Stansbury, CEO of Lincoln Health, Debra Rudquist, president of Amery Hospital and Karen Cheeseman, CEO of Mackinac Straits Health System. They discuss innovative methods of retaining their workforce and explore new ways of attracting future workers to the health care field. The reasons for the work shortage are: Intense competition for healthcare professionals, with works opting for other location options outside of health care Rise in remote work making retention of rural... Read More »
Hunt Regional Healthcare Acquires Two Urgent Care Facilities
Hunt Regional Healthcare (HRH) has announced the acquisition of a pair of urgent care facility locations in Rockwall and Royse City, Texas. Rockwall Urgent Care and Royse City Urgent Care will join the HRH family and will be now called Hunt Regional Urgent Care. The two facilities both provide urgent care and occupational health services in the Rockwall County area. HRH offers comprehensive medical services in Hunt County and Northeast Texas. HRH is centered in Greenville, Texas at Hunt Regional Medical Center and provides an extensive list of outpatient and diagnostic services. Additional facility locations include Commerce, Caddo Mills, Emory, Fate, Forney, Leonard and... Read More »
Best Buy Partners with Geisinger for Chronic Care Management
Minneapolis-based retail giant Best Buy has announced plans to expand its at-home care offerings through a partnership with Pennsylvania-based healthcare system Geisinger Health. Best Buy and Geisinger plan to co-create a chronic care management package in which Best Buy will supply patient engagement and monitoring, and Geisinger will bring clinical expertise to healthcare organizations. Geisinger Health comprises 10 hospitals, as well as a health plan with more than half a million members. The health system has 25,000 employees and more than 1,700 physicians. The health system also has 133 primary care and specialty clinic sites and serves 67 counties. In 2021, Geisinger... Read More »HCA’s Q2 Revenue Gets a Boost from Higher Patient Volumes
Despite industry headwinds, one of the country’s largest health systems reported higher revenues in its quarterly earnings. HCA, Inc.’s revenues in the second quarter of 2023 increased to $15.9 billion, compared to $14.8 billion in the second quarter of 2022, according to its newly released results. Net income totaled $1.193 billion, or $4.29 per diluted share, compared to $1.155 billion, or $3.90 per diluted share, in the second quarter of 2022. The second quarter of 2022 results included losses on sales of facilities of $32 million, or $0.11 per diluted share, and losses on retirement of debt of $78 million, or $0.20 per diluted share. For the second quarter of 2023, Adjusted EBITDA... Read More »Schedule a demo
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