StoneBridge Healthcare's unsolicited bid to buy Erlanger Health System came as a surprise to Erlanger officials and some community leaders, but not to people who are in the business of buying and selling hospitals.
Mergers and acquisitions in the healthcare industry have been on the upswing in recent years, and even with the impact of the COVID-19 pandemic, and the layoffs, furloughs, and financial losses that have followed in its wake; the market remains surprisingly active. Hospitals and health systems announced 14 transactions during the second quarter of 2020—not significantly lower than the 19 transactions reported in Q2 of 2020.1
An information technology division within Ascension Michigan, formerly known as St. John Providence Health System, plans to lay off 223 workers in Troy this fall and outsource their jobs.
Financial fallout from the pandemic and increasing costs is leading to cuts at Cook County’s safety net hospitals and clinics. WBBM Newsradio’s Mike Krauser reports.
A Trump administration rule to require additional price transparency from hospitals is set to take effect on Jan. 1 of next year but is still up in the air as the American Hospital Association (AHA) pursues an appeal of a lower-court decision from June that upheld the rule.
"Erlanger is not for sale" remains the mantra after a private equity firm presented Hamilton County Mayor Jim Coppinger with a $475 million offer last week to buy Chattanooga's public hospital system.