Roundup: Healthcare M&A Deals, Partnerships
Three major hospital deals announced this past week provide further evidence that the nation's healthcare sector is continuing its steady pace towards consolidation.
Catholic Health East / Trinity Health
In perhaps the largest potential merger deal this year, the boards of Newtown Square, PA-based Catholic Health East and Novi, MI-based Trinity Health announced last Wednesday that they signed a non-binding letter of intent to become a unified national health system.
The deal would create a giant Catholic health system serving 21 states from coast to coast with 82 hospitals, 89 continuing care facilities and home health and hospice programs that provide nearly 2.8 million visits annually. More than 87,000 employees, including 4,100 employed physicians, would provide care in the new system, the two systems said.
"Trinity Health and Catholic Health East are strong Catholic healthcare systems that share a Gospel-based mission and an unyielding commitment to care for people who are poor and underserved," Trinity Health Board Chair Sister Mary Mollison said in a joint media release. "This consolidation advances the vision of congregations of Sisters that founded these health care ministries, addresses the changing healthcare environment and takes a bold next step for Catholic healthcare."