NORWALK, Conn., July 24, 2019 /PRNewswire-PRWeb/ -- Hospital M&A activity slid slightly in the second quarter of
The for-profit systems continued their divestitures, although the pace is slowing. Community Health Systems sold four hospitals (512 beds) in three deals during the second quarter and Quorum Health sold a community hospital (106 beds) in California. All were deemed to be underperforming or assets in non-core markets. The largest deal, at $610 million, was privately held KPC Healthcare's acquisition of Verity Holdings, a subsidiary of Verity Health System of California, which filed for Chapter 11 bankruptcy protection in 2018. Two of the 11 not-for-profit transactions were the result of bankruptcy proceedings.
"Nine of the second quarter's deals primarily targeted small hospitals, 100 beds or fewer," stated Lisa E. Phillips, editor of the Health Care M&A Report, which publishes the data. "Smaller systems are merging, like Mid Coast-Parkview Health and MaineHealth, J.C. Blair Health System and Penn Highlands Healthcare in Pennsylvania, and Halifax Regional and Vidant Health in North Carolina."
All quarterly results are published in The Health Care M&A Report for all 13 sectors of health care, which is part of the HealthCareMandA.com investment research source. For more information, or to order the report, call 800-248-1668. Irving Levin Associates, Inc. was established in 1948 and has headquarters in Norwalk, Connecticut. The company publishes research reports and newsletters and maintains databases on the health care and senior housing M&A markets.
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