Category: Hospital Transactions and Valuation

University Health Care System, a three-hospital system in Augusta, Ga., officially joined Atlanta-based Piedmont Healthcare on March 1. Piedmont now comprises 19 hospitals. 

Peoria, Ill.-based OSF HealthCare has signed an exclusive letter of intent to purchase the real estate, medical equipment and other assets of the closed Galesburg (Ill.) Cottage Hospital.

Providence, R.I.-based Care New England said it’s too early to make plans for future merger deals after the system and Lifespan withdrew their application to merge, The Providence Journal reported Feb. 24.

Texas turnaround firm Canyon Atlantic Partners failed to post a $1 million bond required by a Pennsylvania Court of Common Pleas judge to purchase two closed hospitals from West Reading, Pa.-based Tower Health, The Philadelphia Inquirer reported Feb. 25.

The boards of Lifespan and Care New England — both based in Providence, R.I. — have decided to withdraw their merger application after the Federal Trade Commission made an announcement Feb. 17 to file suit to block the deal.

Pajaro Valley Healthcare District Project was approved by a bankruptcy judge to purchase Watsonville Community (Calif.) Hospital, KSBW reported Feb. 23.

Four deals between health systems have been recently announced or completed in the last few weeks.

StoneBridge Healthcare, a financial turnaround company, submitted a bid to purchase Providence, R.I.-based Care New England Health System. 

UnitedHealth Group plans to close its acquisition of Change Healthcare on Feb. 27, meaning the Justice Department now has less than one week to intervene to block the deal, according to a Feb. 17 Securities and Exchange Commission filing.

Pajaro Valley Healthcare District Project has won its bid to buy Watsonville (Calif.) Community Hospital after no other qualified bids were submitted by the deadline, The Pajaronian reported Feb. 21.