Here are five hospital deals Becker’s has reported on in the last month:
1. Philadelphia-based Temple Health has acquired Redeemer Health’s 20% stake in Chestnut Hill Hospital, giving the academic system an 80% ownership interest in the hospital. With the transaction, Redeemer has exited the alliance, while the Philadelphia College of Osteopathic Medicine retains a 20% ownership stake in the148-bed hospital.
2. West Virginia plans to sell four of its long-term care facilities to Marx Development Group, a privately held, full-service real estate development firm based in Fresh Meadows. Mr. Morrisey said Marx Development Group has agreed to purchase Hopemont Hospital in Terra Alta, Jackie Withrow Hospital in Beckley, John Manchin Sr. Health Care Center in Fairmont and Lakin Hospital in West Columbia for $60 million.
3. Nonprofit organization Tenor Health Foundation has signed a letter of intent with Community Health Systems to acquire Commonwealth Health, a three-hospital system in Scranton, Pa. The news comes nine months after Franklin, Tenn.-based CHS’ plan to sell Commonwealth Health to nonprofit organization WoodBridge Healthcare collapsed. That deal was valued at $120 million. Neither CHS nor Tener disclosed the price for their proposed transaction.
4. El Centro (Calif.) City Council approved the transfer of El Centro Regional Medical Center to the Imperial Valley Healthcare District on July 29. The full transfer of assets is expected to take six months due to regulatory requirements. The transfer will include the 161-bed, seismically compliant hospital and related facilities.
5. Irving, Texas-based Christus Health shared plans to sell its former San Antonio-based Christus Santa Rosa Hospital—Medical Center to University Health, also in San Antonio, for $71 million. Christus closed the hospital on April 25 and consolidated services to nearby Christus facilities, after an evaluation of its operations and the community’s evolving healthcare needs.
