Hartford Healthcare Acquires Urgent Care Network in Connecticut
One of the major health systems in Connecticut has expanded its urgent care network. Partnering with Go-Health Urgent Care for the deal, Hartford Healthcare has purchased Branford, Connecticut-based Stony Creek Ventures LLC and its two urgent care facilities in Branford and Orange. Go-Health Urgent Care is an on-demand consumer-centric care platform that serves as the digital and physical front door to the healthcare ecosystem. It has locations in 14 states. In 2017, Hartford Healthcare and Go-Health Urgent created a joint-venture partnership to build an urgent care network in Connecticut. The partnership has nearly two dozen locations in Connecticut now, which will grow with the addition... Read More »
“Inflation Is a Pressure Point:” HCA Healthcare Reports Decline in Q3 Earnings
HCA Healthcare, Inc. handled the storm well, all things considered. Despite market headwinds and tough labor conditions, HCA’s revenues in the third quarter of 2022 totaled $14.971 billion, compared to $15.276 billion in the third quarter of 2021, a drop of approximately 2%. For the third quarter of 2022, adjusted EBITDA totaled $2.902 billion, compared to $3.224 billion in the third quarter of 2021. “Despite a difficult comparison to the prior year due to the COVID-19 Delta variant, we are pleased with our results and the execution of our teams in a challenging operating environment, which included tremendous efforts from our courageous frontline caregivers and support teams who... Read More »
Yale New Haven Health Completes Acquisition of CT Hospitals
Yale New Haven Health, one of the largest health systems in Connecticut, has finalized an agreement to acquire a set of hospitals from Los Angeles-based Prospect Medical Holdings, Inc. But there are a few more complicated details of this deal we need to run through. Prospect Medical Holdings is selling the operations of the hospitals, related businesses, real estate assets, physician clinic operations and outpatient services of Waterbury Health, Manchester Memorial Hospital and Rockville General Hospital. However, Prospect is acquiring the real estate of those hospitals from Medical Properties Trust, Inc. (MPT) for $457 million, the approximate amount MPT paid for the hospitals... Read More »
Juniper Advisory Handles Sale of 3 HCA Hospitals to LCMC Health
LCMC Health, the New Orleans-based, non-profit health system, is adding three hospitals to its network in a new deal. Working with Juniper Advisory, a specialized investment banking firm focused exclusively on nonprofit organizations, LCMC has struck a deal to purchase Tulane Medical Center, Lakeview Regional Medical Center and Tulane Lakeside Hospital from HCA Healthcare. The deal coincides with a new partnership with Tulane University, which will involve LCMC and Tulane joining forces to expand health care in southern Louisiana. One element of the deal calls for most of the services provided at Tulane Medical Center to move to East Jefferson General Hospital and University Medical Center... Read More »
Hospital M&A Market Flash Update
Investment activity in healthcare is extremely healthy this year, with deal volume expected to break records. However, the hospital market seems to be in a different spot, based on year-to-date numbers. Through Q3, there have been 42 announced transactions, compared with 70 total in 2021. Deal closures have been slower, most likely due to market headwinds facing health systems and providers, such as labor shortages. There has also been stricter scrutiny of mergers and acquisitions from the Federal Trade Commission (FTC). The regulatory agency has sued to block several mergers, such as the deal between HCA Healthcare and Steward Health Care System for a sale of five hospitals in Utah and... Read More »Schedule a demo
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