Mergers & Acquisitions
A second school of medicine campus will be built in Charlotte and a new critical care, ER and surgery tower will be constructed.
In making the announcement, neither system mentioned the controversy made public in a letter to the Michigan attorney general.
The deal is another in Molina's plan for strategic growth and to meet competition in the state Medicaid and federal government contracts business.
Beaumont's board is split on AdvocateAurora deal and has agreed to delay vote until members have further talks with physicians.
Saint Peter's has been seeking a partner to allow it to maintain its Catholic mission and identity in a changing and competitive healthcare market.
The new name and branding strategy are meant to evoke the regular rising and falling of the tides, suggesting dependability.
Even with smaller systems flooding the market, analysts warn that the financial pressures caused by COVID-19 will result in fewer potential buyers.
Prime was chosen for its financial commitment and a history of turning around financially distressed hospitals.
There would be no cash involved in the transaction, with combined reserves and assets allowing more funds for new projects.
The drop in activity is especially pronounced year-over-year, with long-term care and physician medical groups among the hardest hit.