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 »
Community Health Systems Divests 3 Hospitals in Florida
Tampa General Hospital has agreed to buy three Florida-based hospitals from a subsidiary of Community Health Systems. The hospitals, which collectively make up the Bravera Health network, include 120-bed Bravera Health Brooksville in Brooksville, Florida, 128-bed Bravera Health Seven Rivers in Crystal River, Florida, 124-bed Bravera Health Spring Hill in Spring Hill, Florida, and their associated assets. The cash consideration is approximately $280 million, excluding anticipated purchase price adjustments for net working capital and the amount of capital leases assumed by the buyer. Total cash consideration to be received, inclusive of these items, is estimated to be... Read More »
It’s Not Just a Private Equity Game – Traditional Health Systems Are Consolidating, Too
Levin Associates attended AHLA’s Health Care Transactions Conference on April 17-19, 2023, and the insights shared below are from panel discussions our writer observed in person. Healthcare investments among private equity firms have attracted a lot of attention in recent years but they’re far from the only players looking to consolidate the market. Traditional not-for-profit health systems are pursuing mergers and acquisitions too, with an emphasis on cross-market deals. Health systems are facing financial threats. Traditional health systems are looking to develop stronger economies of scale because right now, there is a revenue problem. Hospitals are facing serious financial constraints,... Read More »
A Growing Trend: Health Systems Collaborating with Private Equity
Are traditional health systems and private equity-backed groups natural competitors? Maybe not. Levin Associates’ proprietary deal database, which tracks mergers and acquisitions in real time, shows the fast pace at which both sides have been consolidating the medical marketplace over the past decade. The data also shows a new trend taking hold: Rather than competing against each other, health systems and PE firms are forming partnerships. Many experts in the healthcare industry anticipate this trend is here to stay. Levin Associates attended AHLA’s Health Care Transactions Conference on April 17-19, 2023, and the insights shared below are from panel discussions our writer observed in... Read More »
Hospitals Partnering with Private Equity: A Strategic Realignment
Levin Associates attended AHLA’s Health Care Transactions Conference on April 17-19, 2023, and the insights shared below are from panel discussions our writer observed in person and from follow-up conversations with panelists. Partnerships with private equity-backed groups and other non-traditional healthcare entities have created new opportunities for hospital systems to be even more strategic about their operations. One of the recurring themes discussed at the AHLA conference was that many traditional health systems are dealing with cash flow problems – and that partnerships with third-party groups represent a potential solution. As referenced in our previous article “A Growing Trend:... Read More »Schedule a demo
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