August 14, 2020 - Sentara Healthcare (Norfolk, VA) and Cone Health (Greensboro, NC) signed a letter of intent to merge the two health systems. The combination will create a 17-hospital, $11.5 billion system. The deal is expected to close in mid-2021, pending regulatory approval. The new IDN’s corporate headquarters will be in Norfolk. Sentara's current CEO, Howard Kern, … [Read more...]
Waystar to acquire eSolutions, RCM company valued at $1.3B
August 13, 2020 - Waystar announced a definitive agreement to acquire eSolutions, a revenue cycle technology company with Medicare-specific solutions. Waystar says the combination will result in the first technology to unite both commercial and government payers onto a single payments platform. Founded in 1999, eSolutions' technology maximizes revenue collection, … [Read more...]
Verity gets green light to sell 384-bed hospital to Prime Healthcare
August 13, 2020 - Verity Health System of California (El Segundo, CA) won bankruptcy court approval to sell 384-bed St. Francis Medical Center (Lynwood, CA) to Prime Healthcare Services (Ontario, CA). The sale happened in spite of objections for the California Attorney General Xavier Becerra and a last-minute attempt from an opposing bidder to block the sale. Verity said … [Read more...]
Thermo Fisher terminates proposed acquisition of QIAGEN
August 13, 2020 - Thermo Fisher Scientific Inc. (Waltham, MA) announced that its offer to acquire all of the ordinary shares of QIAGEN N.V. has lapsed. Based on information provided by the settlement agents for the offer, the minimum acceptance threshold condition to the offer was not satisfied and the offer has lapsed in accordance with its terms. As a result, Thermo … [Read more...]
Medtronic to acquire Companion Medical, a smart insulin pen company
August 11, 2020 - Medtronic plc (Dublin, Ireland) announced the planned acquisition of privately-held Companion Medical, manufacturer of InPen — the only U.S. FDA-cleared smart insulin pen system paired with an integrated diabetes management app. According to Medtronic, the addition of Companion Medical’s InPen to the company’s portfolio expands Medtronic’s ability to … [Read more...]
Siemens Healthineers to acquire Varian Medical Systems for $16.4B
August 03, 2020 - Siemens Healthineers will acquire Varian Medical Systems (Palo Alto, CA) for about $16.4 billion in cash. Siemens offered $177.5 a share for Varian, 24% more than its closing price on Friday. The bid will be financed through both debt and equity, Siemens Healthineers says. The purchase will bring together two partners that have collaborated for more than … [Read more...]
NorCal HealthConnect offers to acquire Petaluma Valley Hospital for $52.6M
July 30, 2020 - The operator of Petaluma Valley Hospital announced it has received a proposal from NorCal HealthConnect, LLC, a secular affiliate of Providence St. Joseph Health (PSJH), to purchase Petaluma Valley Hospital for $52.6 million. Under the proposed deal, NorCal would continue to provide emergency and acute care services “well into the future.” NorCal … [Read more...]
NJ officials concerned about changes for University Hospital through Rutgers, RWJ partnership
July 24, 2020 - Elected officials and labor leaders are worried that changes underway within Rutgers University’s healthcare programs will harm University Hospital (Newark, NJ) and undermine agreements designed to protect the public health of city residents. Their concerns are outlined in a trio of letters to the university president and New Jersey Gov. Phil … [Read more...]
Unrest among Beaumont Health doctors on eve of possible merger
July 24, 2020 - Beaumont Health (Royal Oak, MI) announced last month its nonbinding letter of intent to potentially merge with Advocate Aurora. It would not be a sale, but a merger of assets of the hospital systems into one $17 billion entity under the control of a single board of directors. The board would include equal representation from the legacy Beaumont system and the … [Read more...]
Prime Healthcare Services receives conditional approval to purchase St. Francis Medical Center
July 21, 2020 – Prime Healthcare Services (Ontario, CA) has received conditional approval from California state Attorney General Xavier Becerra to purchase St. Francis Medical Center (Lynnwood, CA) out of bankruptcy. It was one of six hospitals owned by Verity Health System (El Segundo, CA), which filed for bankruptcy protection in August 2018. Four of those hospitals have … [Read more...]