Lourdes Health Merges with Virtua

Lourdes Health Merges with Virtua

In early June, the boards of Virtua Health and Maxis Health System, an entity of Trinity Health, signed a definitive agreement to merge Maxis Health’s Lourdes Health System with Virtua. Virtua Health operates three hospitals in South Jersey, as well as the 500-physician Virtua Medical Group, eight urgent care centers, multiple ambulatory surgery centers, home health services, long-term care and rehabilitation centers. Lourdes Health System, based in Camden, New Jersey, is one of the region’s leading healthcare providers. It consists of two hospitals, Our Lady of Lourdes Medical Center (257 beds) in Camden, Lourdes Medical Center of Burlington County (122 beds), Lourdes Medical... Read More »

March Added One Mega-Deal, and Saw Another One Halted

After a busy M&A month in February, with 125 deals reported, March didn’t disappoint. Preliminary results show deal volume equaled the previous month’s total. The figures look good, in the face of the recent stock market swings, the Trump administration’s talk of trade wars and cancelling trade deals. But a look back to March 2017 shows this month’s deal volume is down 19% compared with the 155 deals logged then. And that wase in the face of the Trump administration’s efforts to repeal and replace the Affordable Care Act. Check out the April issue of Health Care M&A News for the deal volume and value charts, by sector. We’re not saying this year’s healthcare market is lacking in... Read More »

St. Michael’s Medical Center Saga Ends

Way back in December 2012, Prime Healthcare Services signed a letter of intent to acquire Trinity Health subsidiary, St. Michael’s Medical Center, then a 147-bed acute care hospital (down from 259 beds in 2010), in Newark, New Jersey. The parties signed a definitive agreement in February 2013. As usual, getting regulatory approval from the New Jersey Department of Health and the State Attorney General took a while. Too long, in fact. In April 2015, with the deal still not approved, a Navigant Consulting report suggested several healthcare facilities in the city be shut down or consolidated, which caused several campaigns and protests on St. Michael’s behalf. On August 10, 2015,... Read More »

St. Joseph’s Finally Says Yes to Trinity Health

What began as a strategic affiliation agreement in early 2014 finally blossomed into full commitment. St. Joseph’s Hospital Health Center, a 431-bed acute care hospital in Syracuse, New York, agreed to become part of Trinity Health’s national organization. Trinity already operates in other areas of the state, through Catholic Health in Buffalo and St. Peter’s Health Partners in Albany. Next steps for its latest addition include a transition team. Read More »