The third quarter of 2015 was a busy one for hospital mergers, joint ventures and acquisitions, according to a new report by financial advisory firm Ponder & Co., with 28 deals announced.
The activity was in line with the prior two quarters.
[Also: Tracking 2015 mergers and acquisitions]
Total revenue for acquisition targets average $268 million, while median revenue was $86 million, Ponder said. Meanwhile average number of beds at acquisition targets was 296 for the quarter, with a median of 120 beds. That was about 25 percent lower than the previous quarter, when median beds at acquired facilities was 160. A rise in transactions for small, specialty hospitals drove down the median in the third quarter, Ponder said.
The southeast was the busiest region for transactions in the quarter, according to the report.
While the pace of M&A was strong, Ponder said there are more deals on the way. The company expects 2015 will end with nearly 115 hospital deals.
For example, while Georgia booked two deals in the third quarter, there are four other hospitals that have announced searches for new partners: Athens Regional, Gwinnett, Memorial Savannah and West Georgia.
[Also: Northside Hospital, Gwinnett Medical Center to merge in Georgia, form integrated system]
Here is the list of third quarter deals, from Ponder.
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