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 »
Excela Health and Butler Health System Sign Letter of Intent to Merge
A new deal is set to create another mega-health system in Pennsylvania. Officials at Excela Health and Butler Health System announced on June 1 that the organizations have signed a letter of intent to merge. Although the details still need to be ironed out and regulators still need to give the thumbs-up, the new health system would generate more than $1 billion in annual revenue, employ approximately 7,300 people, and have more than 1,000 physicians and practitioners that serve a population of 750,000. This combination will support five hospitals including Butler Memorial Hospital, Clarion Hospital, Frick Hospital, Latrobe Hospital and Westmoreland Hospital. Excela Health, a 578-bed,... Read More »
HCA Healthcare Lowers 2022 Guidance
HCA Healthcare posted its financial performance for the first quarter of 2022, and there was some good news. The health system saw higher year-over-year revenues, increasing nearly 7% to $14.945 billion, compared to $13.977 billion in the first quarter of 2021. Same-facility revenue per equivalent admission increased 2.7% over the first quarter of 2021, while same-facility inpatient revenues grew 5.4%, and same-facility outpatient revenues rose 10.6%. Despite these gains, HCA’s year-over-year net income dipped, dropping from the first quarter of 2021’s $1.4 billion to nearly $1.3 billion in the first quarter of 2022. Adjusted EBITDA for the quarter also dipped from last year’s nearly $3.1... Read More »
Piedmont and The University Health Care System Finalize Merger
Piedmont Healthcare has expanded its already deep network in Georgia with the finalization of its merger with The University Health Care System. The two organizations signed a letter of intent in May 2021, and on Tuesday, March 1, University Health joined the Atlanta-based system. University Health Care System serves the greater Augusta region, anchored by University Hospital (598 beds), founded in 1818 as City Hospital. The system includes University Hospital Summerville (231 beds), also in downtown Augusta, and University Hospital McDuffie (25 beds) in Thomson, Georgia. In addition, University has two skilled nursing and rehabilitation centers and serves ambulatory patients with... Read More »Schedule a demo
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