Hospital Mergers and Acquisitions Declined in 2013
"Without the strong performance of the long-term care sector, which had a 20% increase in transaction volume in 2013, health care services would have had a less robust year," Phillips said.
Here's a look at some more recent deals:
St. Tammany Parish Hospital Partners with Ochsner Health
St. Tammany Parish Hospital and New Orleans-based Ochsner Health System will form a strategic partnership to bolster healthcare access in the Northshore area of Lake Pontchartrain, the two providers have announced jointly.
"We looked at a variety of different models and really felt like the partnership, which is more like a Joint Operating Agreement, was the right structure," Warner Thomas, president/CEO of the 10-hospital Ochsner Health System, said this week.
"It allows flexibility for St. Tammany and Ochsner, yet we are committed to working together in that marketplace, expanding services, and we are going to be exploring opportunities for reducing costs, and growth initiatives. There will be a lot of coordination between our organizations."
"St. Tammany is not in a situation where they need to be acquired or merged with a larger entity. They are in a strong position," Thomas says. "We have a significant physician base in that market. They have a very successful hospital in that market. It really is synergistic from that perspective."
No money will change hands with the deal, but Thomas says there will be "financial integration going forward."
- Half of All Primary Care, Internal Medicine Jobs Unfilled in 2013
- How Digital Strategy Shapes Patient Engagement at Boston Children's Hospital
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- CNO on Hospital Redesign: 'You Can't Over-Communicate'
- Some Cancer Hospitals' Quality Data Will Soon Be Public
- CA Powers Up $80M HIE to 'Create Value in the Data'
- Carondelet to Pay $35M to Settle Fraud Allegations
- TJC Warns Hospitals of Deadly Medical Tubing Mistakes
- 3 Traits Personality Assessments Can't Reveal
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity