Business Roundup: Healthcare M&A Activity Brisk
Banner Health to Acquire Casa Grande RMC
Banner Health will acquire Casa Grande Regional Medical Center, a 177-bed, not-for-profit community hospital located about 50 miles south of Phoenix, AZ, the two providers announced jointly. Financial terms were not disclosed.
"CGRMC's mission has always been to make a positive difference in the lives of those we serve through compassion and excellence in patient care. This fits perfectly with Banner's mission as well. Furthermore, joining with Banner allows CGRMC the best opportunity to grow this facility in the long term. We look forward to a bright future," said Rona Curphy, president/CEO of CGRMC.
The deal is subject to regulatory approvals, but is expected to be completed this spring. Banner has also agreed to provide interim funding as needed in order for CGRMC to continue regular operations until the acquisition is complete.
Banner Health President/CEO Peter S. Fine said the acquisition "will build on the strong foundation provided by Casa Grande Regional Medical Center to expand Banner's non-profit mission of excellent patient care to the community of Casa Grande. Community residents can count on the full suite of clinical performance processes and technologies that are the foundation of Banner's ability to provide industry-leading care."
- 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'
- Carondelet to Pay $35M to Settle Fraud Allegations
- Some Cancer Hospitals' Quality Data Will Soon Be Public
- CA Powers Up $80M HIE to 'Create Value in the Data'
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- 3 Traits Personality Assessments Can't Reveal
- Cleveland Clinic Partners with North Shore-LIJ for Heart Care