Kaiser Permanente Acquires Geisinger Health, Launching Risant Health
Kaiser Permanente announced on April 26 that it was acquiring Geisinger Health, which will join Risant Health, a new nonprofit organization created by the Kaiser Foundation Hospitals. Geisinger Health comprises 10 hospitals, as well as a health plan with more than half a million members. The Danville, Pennsylvania-based health system has 25,000 employees and more than 1,700 physicians. Kaiser Permanente is among the country’s largest nonprofit systems with 39 hospitals. Its operations span eight states coast to coast with roughly 13 million members who receive care through its integrated model. The organization reported $95.4 billion in operating revenue across 2022, as well as a $1.3... Read More »
How Ascension and Kaiser are Responding to Physician Practice Consolidation
M&A activity in physician practices continues to have a significant presence in the healthcare landscape as practices compete against each other for market control. To make their mark on patients and grow, physician groups are forced to carve out a distinctive place in the industry. According to data captured in the LevinPro HC database, there were 51 Physician Medical Groups (PMG) transactions announced during January 2023, a 35% decline from January 2022 when 79 PMG deals were reported. The dental specialty had the most transactions, representing approximately 24% of all January 2023 PMG acquisitions, an increase from January 2022 when dental represented more than 20% of the PMG... Read More »
Hospital Mergers Point to the Future of Health Systems
Hard on the heels of the merger announcement between Dignity Health and Catholic Health Initiatives came the news that Ascension Health and Providence St. Joseph Health were in their own talks to merge. The Dignity/CHI deal will create a 139-hospital system spanning 28 states, with revenue of more than $28 billion. If the Ascension/Providence merger is realized, the resulting company would be the largest hospital system, with 191 hospitals in 27 states, and annual revenue of $44.8 billion. By contrast, the current largest system, for-profit HCA (NYSE: HCA), has approximately 175 hospitals and revenue of $42.7 billion. Even if the Ascension/Providence deal doesn’t go through, the... Read More »Kaiser Permanente Acquires Group Health Cooperative
Kaiser Permanente, the California healthcare provider and insurer, announced it will acquire Seattle-based Group Health Cooperative. The price of $1.8 billion will create a new community foundation in Washington state. Group Health covers approximately 590,000 members. It will become Kaiser’s eighth region, joining Colorado, Georgia, Hawaii, Mid-Atlantic states (Virginia, Maryland and the District of Columbia), Northern California, Northwest (Orgegon and southern Washington) and Southern California. If approved by regulators, Kaiser’s reach will cover the entire West Coast of the United States. Read More »Schedule a demo
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