Steward Health Buys 8 Community Health Hospitals

by | Feb 17, 2017 4:49 pm | Hospitals, Private Equity

It’s no secret that Community Health Systems (NYSE: CYH) is selling off hospitals and medical office buildings to pay down its $15 billion debt. Its latest deal offloads eight hospitals with a total of 1,818 beds in Florida, Ohio and Pennsylvania to Steward Health Care LLC for an undisclosed price. The hospitals involved in this deal are Wuesthoff Health System-Melbourne (119 beds) in Melbourne, Wuesthoff Health System-Rockledge (298 beds) in Rockledge, and Sebastian River Medical Center (154 beds) all in Florida; ValleyCare Health System of Ohio, which consists of Northside Medical Center (355 beds) in Youngstown, and Trumbull Memorial Hospital (311 beds) and Hillside Rehabilitation... Read More »

Long-Term Care Sector Revs up in November

by | Nov 3, 2016 1:05 am | Long-Term Care

The Long-Term Care M&A market seemed to hit the doldrums, with 22 transactions in September and just 20 transactions in October. The sudden slowdown left us wondering if this could be the new norm after a red hot couple of years, where the sector averaged about 30 deals per month in 2015, and settled slowly down to 26 deals per month, through the end of October 2016. So the first week in November came as quite a shock. In the first two days of the month, two of the three largest transactions of the year were announced, along with a $337 million deal for 31 skilled nursing facilities. Sixteen transactions in this sector were announced in the first four days of November, 80% of October’s... Read More »