From a multistate megamerger that would create a $26 billion nonprofit giant to a California system quietly adding a hospital, these are the five deals that have drawn the most attention so far this year:
1. Ontario, Calif.-based Prime Health Care entered into an asset purchase agreement Jan. 16 with Mishawaka, Ind.-based Franciscan Alliance to acquire its Franciscan Health Olympia Fields (Ill.), making it the system’s ninth hospital in Illinois. Under the proposed transaction, Franciscan Health Olympia Fields and Specialty Physicians of Illinois would transition to Prime. The health system also committed $5 million in philanthropic contributions to support Franciscan’s medical education expansion.
2. West Orange, N.J.-based RWJBarnabas Health and Englewood (N.J.) Health signed a definitive agreement under which Englewood would become part of RWJBarnabas Health. The transaction is subject to state and federal regulatory approvals. Once finalized, the partnership aims to enhance healthcare services for residents in Bergen, Hudson and Passaic counties. Under the agreement, RWJBarnabas Health would make approximately $500 million in capital investments in Englewood Health to support expanded outpatient services and community health programs, as well as other strategic investments in 2026 and beyond.
3. Franklin, Tenn.-based Community Health Systems signed a definitive agreement to sell Crestwood Medical Center in Huntsville, Ala., to Huntsville (Ala.) Hospital Health System for $450 million. The deal includes all of the assets tied to the 180-bed hospital and is expected to close in the second quarter of 2026, pending regulatory approvals and other closing conditions. The transaction is one of several divestitures CHS has pursued in recent quarters as the for-profit health system reshapes its portfolio, improves its margins and trims its debt.
4. Fairfield, Calif.-based NorthBay Health has signed a letter of intent to acquire Providence Queen of the Valley Medical Center in Napa, Calif., a move that would expand the system to three hospitals. Providence Queen of the Valley Medical Center is a 198-bed hospital and one of the largest employers in Napa County. Services at the hospital include a regional heart center; an orthopedic center and cancer center approved with commendations by the American College of Surgeons; a neurosurgery program affiliated with UCSF; a women’s center; maternity and infant care; inpatient and outpatient minimally invasive surgery; and a full-service emergency department and trauma center.5. Sacramento, Calif.-based Sutter Health and Minneapolis-based Allina Health have signed a letter of intent for Allina to join the health system, creating a combined nonprofit organization spanning California, Minnesota and Wisconsin. The proposed transaction would create a system with 39 hospitals and more than 400 care sites, serving more than 5 million patients. Upon closing, the combined system would include 18,000 physicians and 88,000 employees across Northern and Central California and Minnesota and Wisconsin. Based on 2025 revenues, the combined organization would generate about $26 billion.
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