Hospital Bankruptcies Contributing to M&A Volume

by | Mar 8, 2016 8:00 am | Hospitals

The hospital sector staged a strong showing in February, with 11 transactions recorded thus far. The month’s total beat January’s four deals, and was even higher than December 2015’s nine transactions. Unfortunately, bankruptcy proceedings provided the catalyst for four of February’s hospital deals, and we’re sure to see more in the year ahead. Last year, at least 11 hospital deals involved a bankrupt facility, so four already on the books in 2016 doesn’t seem to bode well. Prices for the hospitals reached $96.2 million, which was what HCA North Texas (NYSE: HCA) paid for Forest Park Medical Center at Frisco, a 54-bed hospital that is part of the failing, physician-owned chain in Texas.... Read More »

Hospital M&A Revs Up in February

by | Feb 3, 2016 8:00 am | Hospitals

Two days into February 2016 and we’ve recorded four hospital transactions. Considering there were only two in all of January, this action is impressive. One was a straight real estate deal from Carter Validus Mission Critical REIT II, Inc., which paid $33.9 million for Sherman, Texas-based Heritage Park Surgical Hospital and Visionary Medical Imaging. Both facilities were built in 2005. The hospital has 57,576 square feet, and was renovated in 2010 to become a full-service surgical hospital. VMI is an 8,055 square foot facility. The deal actually closed in November 2015, but wasn’t announced until now. Larkin Community Hospital, a for-profit, 146-bed hospital in South Miami,... Read More »