M&A Roundup: In MI, a $6.4B Merger
South Jersey Health System, Underwood-Memorial Health Finalize Merger
Also last week, South Jersey Health System Inc. in Vineland, NJ, and Underwood-Memorial Health System in Woodbury, NJ signed a merger agreement that finalizes a deal first announced last January.
SJH has more than 3,500 employees and a medical staff of more than 600 physicians. It includes the SJH Regional Medical Center, a 262-bed facility in Vineland; SJH Elmer Hospital, a 96-bed hospital in Elmer; the SJH Bridgeton Health Center that houses 65 mental health and inpatient hospice beds; and outpatient sites in four counties in Southern New Jersey.
UMHS includes the flagship Underwood-Memorial Hospital, a 305-bed, acute care hospital in Woodbury, NJ, and assorted out-patient clinics.
Baptist (KY) Health Buys Trover Health System
Baptist Health announced that it has acquired Trover Health System in Western Kentucky. The Madisonville-based facility the eighth hospital in the Bluegrass state for the Louisville-based health system.
The 410-bed Trover hospital will now be called Baptist Health Madisonville.
No cash was exchanged but The Courier-Journal reports that the deal is valued at about $120 million.
"We couldn't have chosen a finer addition to our already strong, statewide network of hospitals," Baptist Health President/CEO Tommy J. Smith said. "And we're equally proud that Trover chose Baptist when looking for a partner."
The announcement caps a year of negotiations.
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