There is no shortage of mergers and acquisitions in the healthcare industry as vendors, healthcare technology companies, payers and others in the industry seek to grow their businesses and gain a competitive advantage. Here’s a look at the new offers that have been revealed, closed or canceled during the month of September.
Intermountain Healthcare and SCL Health unveiled plans to merge and form a system of 33 hospitals and a health insurer. Pending approvals, the nonprofit systems said they aim to finalize the deal before the end of 2021 and combine in early 2022. The combined entity would employ more than 58,000 people and run 385 clinics. in Utah, Idaho, Nevada, Colorado. Montana and Kansas.
A Medical closed its acquisition of Iora Health for $ 2.1 billion on September 1. The deal is expected to expand the primary care provider’s potential market opportunities to $ 870 billion.
NorthShore University HealthSystem and Edward-Elmhurst Health announced its intention to merge under a new parent entity of nine hospitals. The pending deal aims for closure in 2021. It would form a system employing around 25,000 people and more than 6,000 doctors.
HCA Health has entered into a preliminary agreement to sell nearly 50 of its recently acquired home care facilities, hospices and therapy agencies to the LHC Group. The transaction is expected to be finalized in the fourth quarter of 2021.
HCA Healthcare has also signed an agreement to acquire the operations of five Utah hospitals from Steward Health Care. Terms of the acquisition were not disclosed. The move brings HCA Healthcare’s total number of Utah hospitals to seven and strengthens its Mountain division, which spans Utah, Idaho and Alaska.
Spectrum Health and Beaumont HealthThe announced merger is delayed beyond its target for fall 2021 by a “tidal wave” of merger and acquisition files with the Federal Trade Commission. Michigan suppliers also said they were responding to the agency’s request for additional information on the merger, “which organizations say has become increasingly common,” they wrote. If approved, the merger would result in a system of 22 hospitals.
Tower health signed the sale and closure of two hospitals in an attempt to strengthen its finances. The old arrangement will move Chestnut Hill Hospital and more than a dozen emergency care centers to Trinity Health Mid-Atlantic. His Jennersville hospital, meanwhile, will be closed by January 1.
Appalachian Regional Health signed an agreement to acquire Paul B. Hall Regional Medical Center, a 72-bed acute care hospital in Kentucky, for an undisclosed amount. Suppliers expect Appalachian to take over day-to-day operations on December 1.
Affinity Health Partners has agreed to purchase Martin General Hospital from Quorum Health. The conditions were not disclosed. The 49-bed facility is located in Williamston, North Carolina. The companies expect their deal to be reached on December 1.
Humana Rumor has it once again the takeover of managed care company Medicaid Centene. The speculation is based on the gossip that a Humana private jet was spotted near Centene’s headquarters in St. Louis and follows a similar rumor from 2019 that was directly refuted by the payer.
The Alliance of Walgreens Boots announced a $ 970 million investment in specialty pharmacy Shields Health Solutions. This will give Walgreens a controlling 71% stake in the company, as well as a full buyout option going forward. Walgreens said the move strengthens its focus on accelerating innovative healthcare models.
Invitation, a medical genetic data company, is set to acquire Ciitizen, a consumer medical records technology company, for $ 325 million. The deal is for $ 125 million in cash and 7 million shares, as well as $ 225 million in restricted stock units issued to Ciitizen employees who remain after the acquisition. Company executives said they hope to develop a centralized hub for medical data, including consumer genomic and clinical information, that can support research and decision-making.
Unite us grabbed the NowPow social determinants of health software platform for an undisclosed amount. The combined companies will have a diverse customer base and partner base of payers, providers and governments as well as educational services, child welfare services and community organizations.
Athenahealth Owners Veritas Capital and Elliott Investment Management are reportedly exploring a potential sale or initial public offering of the tech company. They are aiming for a valuation of $ 20 billion and aiming for a deal by the end of the first quarter of 2022. Private equity firms had bought the electronic health records and practice management company for $ 5.7 billion. in 2018.
Azalea Health, a provider of electronic health records, has acquired healthcare analytics software maker dashboard® for an undisclosed amount. Azalea has announced that it will merge the dashboardMD team with its own and hopes to add its analytical capabilities and expertise to its existing platform.
Zelis, a healthcare payments company, acquires price transparency and supplier selection company Sapphire Digital for an undisclosed amount. The deal is expected to close in the fourth quarter and will provide Zelis with more than 100 million Sapphires members from more than 50 health plans, third-party administrators and self-funded employer organizations.
Symplr, a healthcare operating tools maker, has announced it will acquire clinical communications and collaboration software maker Halo Health for an undisclosed fee.
Edifecs, a provider of healthcare IT solutions, acquired Talix, which provides risk adjustment and quality analysis software to providers and payers. Edifecs plans to integrate its Encounter Management product into Talix’s offerings.