Walgreens Boots Alliance is on the verge of finalizing a deal with private-equity firm Sycamore Partners to take the embattled drugstore chain private in a transaction valued at approximately $10 billion, according to a report. Negotiations are in advanced stages, with both sides aiming to seal the agreement as soon as Thursday — though a last-minute hurdle could still delay or derail talks, sources told The Wall Street Journal. The deal is expected to involve Sycamore paying between $11.30 and $11.40 per share in cash, with the potential inclusion of contingent value rights that would allow shareholders to benefit if certain financial benchmarks are met.
Duke Health and Novant Health said they will work together to develop new locations across the state to improve health outcomes. No specific projects or financial details were mentioned in a press release issued today. The partnership represents an unexpected connection between the state's second-largest hospital operator (Novant had about $10 billion in annual revenue last year) and third-biggest (Duke had $6.8 billion of revenue in fiscal 2024.) The organizations said construction for the first sites would begin this summer, with the facilities opening about 18 months later.
Gov. Ned Lamont on Monday confirmed that Yale New Haven Health plans to end its bid to buy Prospect Medical Holdings' three Connecticut hospitals, even as his administration worked with lawmakers to speed any potential future deals. "I think it's over," Lamont said of Yale's bid at a news conference at the state Capitol on Monday afternoon.
Tampa General Hospital has opened a primary care clinic dedicated to treating only military personnel and veterans. The Military & Veteran Primary Care Center offers primary care, behavior health, labs and pharmacy services, the hospital said in a Friday news release issued. The facility was carved out of a portion of a longtime Tampa General Medical Group clinic in South Tampa. Reservists, National Guard members and veterans will have exclusive access to the medical group's providers, by appointment.
The West Florida division of AdventHealth, a Seventh-Day Adventist nonprofit healthcare system, formally announced the acquisition Monday of the former ShorePoint Health Port Charlotte hospital, a 254-bed full-service hospital, as well as its related businesses. It will rename the facility AdventHealth Port Charlotte. The $265 million purchase of ShorePoint Health's hospitals in Port Charlotte and Punta Gorda was announced last December. The Punta Gorda facility – which closed before Hurricane Helene last September and never reopened – will not be reopened. The West Florida Division of AdventHealtlh currently operates about a dozen hospitals in Florida; the facilities in Charlotte County would be the chain's southernmost.
Sutter Health has agreed to settle a massive class-action lawsuit accusing the nonprofit health system of illegally wielding its market power to drive up Californians' health care costs by more than $400 million. The long-running federal lawsuit was settled on the eve of trial on Sunday. It would have been the second time the case, Sidibe v. Sutter Health, was tried before a jury. In 2022, a U.S. appeals court determined that a judge's error caused the jury to miss out on crucial details and overturned Sutter's win. Terms of the settlement were not immediately released on Monday, but it's likely sizable given the scope of the case. The individuals and businesses suing Sacramento, Calif.-based Sutter want to be repaid for the money they spent on health insurance from 2011 through 2020.