Mergers & Acquisitions
The health systems have signed a non-binding, 90 day letter of intent to integrate Aria into Jefferson Health, they announced Tuesday.
As healthcare mergers continue to pick up pace due to industry conditions that favor large-scale systems, it can be a difficult transition when organizations with different work cultures are forced to combine.
St. Luke's Cornwall Hospital in New York has joined the Montefiore Health System in a merger expected to strengthen specialty care in New York's Hudson Valley, the system announced on Monday.
"Severe and unexpected cuts" to Medicaid payments in the Connecticut budget have stalled talks of a joint venture between Hartford HealthCare and Day Kimball Healthcare, according to Hartford HealthCare.
The new integrated network, while not technically a merger, brings together 27 hospitals in North Texas as well as physicians both independent and associated with UT Southwestern, an academic medical center, and Texas Health Resources, a faith-based, nonprofit health system, according to UT Southwestern.
Hospital giant Tenet Healthcare Corp. on Sunday said it has formed a joint venture with the Baptist Health System in Birmingham, Alabama. Under terms of the deal, the joint venture includes all four of Baptist's hospitals as well as the Brookwood Medical Center, a Tenet hospital.
Florida hospital operators Baptist Health South Florida and Bethesda Health on Friday said they plan to merge in 2017 after managing jointly through a 24-month transition period.
Thursday's expected announcement brings to fruition talks that began in November 2013, when AtlantiCare said a merger would reduce costs and improve efficiency of care.
Mark T. Bertolini, chairman and CEO of Aetna in Hartford, Connecticut and Joseph R. Swedish, president and CEO of Anthem in Indianapolis, argued before a Senate Judiciary subcommittee on Antitrust, Competition Policy and Consumer Rights on Tuesday that local insurance plans would keep the industry competitive.
Prime Healthcare in California has sued California Attorney General Kamala Harris, claiming she abused her constitutional powers by imposing strict conditions on the sale of the Daughters of Charity Health System that ultimately caused the deal to fall apart.