Capital Finance
Health IT investment shattered prior records and IT M&A and valuations were at all-time highs, according to Healthcare Growth Partners report.
The two hospitals located within five miles of each other have been operating at half capacity. Officials said population stagnation in is another reason for the consolidation.
New facilities will bring together researchers and clinicians, add surgical space.
The online marketplace includes devices, pharmaceuticals, capital equipment and supplies to help hospitals recover some expenses and reduce overall costs.
Health IT funding set a record in 2017 with AI and predictive analytics as top tech funded, with patient engagement, telehealth and clinical decision support close behind.
The new facility will be "right-sized" for pediatric services, officials say.
Meanwhile, prescription drug prices jumped 1 percent after a 0.6 percent rise late last year.
Tenet has committed to $250 million in cost reductions, sale of Conifer and streamlining of USPI, the health system's CEO tells investors.
Biotechnology was by far the most invested-in group, with $13.8 billion in investments, and Oncology specialty is the biggest draw, AngelMD report shows.
In the fourth quarter alone, HTA completed $32.7 million of investments in the Dallas area, $80.2 million in Milwaukee, Wisconsin and Long Beach, California, and one development project in Raleigh, North Carolina.