St. Luke's University Health Network, a nonprofit with a large presence in the Lehigh Valley and Northeastern Pennsylvania, is in talks to acquire Grand View Health in Bucks County. The talks became public last week, following two notable healthcare deals last month: The University of Pennsylvania Health System reached a definitive agreement to acquire Doylestown Health, also in Bucks County, and Thomas Jefferson University completed its acquisition of St. Luke's competitor Lehigh Valley Health Network. If St. Luke's completes the acquisition of the nonprofit Grand View in Sellersville, it would extend the system's reach into the Philadelphia market. In Grand View, which has close clinical ties to Penn Medicine, St. Luke's would acquire a hospital and related businesses that have had huge operating losses in recent years. In each of the last three fiscal years, Grand View has lost more than $40 million. The loss reached nearly $50 million in fiscal 2024, when Grand View had $279 million in revenue. Grand View spent $200 million to open a new patient pavilion in the summer of 2023. Grand View would be St. Luke's 12th full-service hospital. In fiscal 2024, St. Luke's had $3.6 billion in revenue and $111 million in operating income. Its rival Lehigh Valley Health Network had $4.5 billion in revenue and $16.5 million in operating income.
Dollar stores continued to open rapidly across the U.S. in the second half of August, with Dollar General and Dollar Tree opening more than 100 locations combined. CVS reported the largest number of store closings at 19. The pharmacy chain opened four locations during the period.
Pennsylvania's top law enforcement officer accused bankrupt hospital operator Steward Health of neglecting one of its hospitals and threatening to close the facility if authorities don’t immediately provide $1.5 million in government funding.
The company that controls Steward Health Care's hospital properties in Massachusetts has rejected Gov. Maura Healey's proposal to save St. Elizabeth's Medical Center by seizing its building and grounds for $4.5 million.
Johnson & Johnson says it will buy privately held V-Wave for up to $1.7 billion, the healthcare conglomerate's second deal this year aimed at boosting its presence in the market for heart disease devices.
The owners of the bankrupt Steward Health Care system have asked a judge to reject 144 leases with the landlord of its hospitals around the country to make it easier for Steward to sell those hospitals.