Healthcare mergers and acquisitions are in no short supply as providers, health tech companies, payers and other industry players look to expand their businesses and gain a competitive edge. Here’s a roundup of new deals that were revealed, closed, rumored or called off during the month of July.
Providers
Erlanger Health System plans to join Prisma Health, creating a 27-hospital system in exchange for a $2 billion strategic capital commitment toward care in the Chattanooga, Tennessee area. The nonprofits have a signed, non-binding letter of intent and would together form a 27-hospital organization with $9 billion in operating revenue.
AdventHealth and Intermountain Health are planning a Denver-area joint venture that will comprise eight hospitals—five from AdventHealth and three from Intermountain—and dozens of their affiliated sites. AdventHealth would manage the facilities and likely become its majority owner upon formation, which is expected in early 2027.
Ascension plans to acquire Williamson Health, a Tennessee regional healthcare system, for $700 million plus and an additional $250 million in pledged capital over a 10-year period. The deal, which requires local county commission and regulatory clearances, would be expected to close in 2027 or 2028 and bring the organization under the Ascension Saint Thomas affiliate system.
Palomar Health and UC San Diego Health closed a deal to create a joint powers authority, creating a new health system operating under the name Palomar UC San Diego Health. It serves nearly a million people in the communities of North San Diego County and includes three hospitals as well as other facilities, such as the area's only NCI-designated Comprehensive Cancer Center.
Intermountain Health is picking up Surgery Partners’ share in two Idaho hospitals and over half a dozen affiliated clinics for about $795 million. The deal values the facilities at about $1.15 billion and is expected to close “in the coming months, subject to the foregoing approvals,” according to the investor announcement. It would leave Intermountain as the sole owner of Idaho Falls Community Hospital, an 88-bed facility, and increase its share of the physician-owned Mountain View Hospital, which has 38 beds.
Allegheny Health Network, part of Highmark Health, finalized an affiliation agreement with the two-hospital Heritage Valley Health System. The arrangement will bring Allegheny Health Network to a total of 16 full-service, acute-care inpatient facilities, and add 36 physician offices and seven multi-specialty outpatient facilities.
Knox Lane wrapped its acquisition of Cross Country Healthcare, a healthcare staffing and workforce technology company. The investment firm’s $437 million go-private deal is expected to fuel Cross Country’s continued growth.
Cardinal Health announced two separate home care purchases worth $360 million: AdaptHealth Corp's diabetes health business unit and medical supply provider Strive Medical. AdaptHealth, in its own disclosure, placed a $235 million price tag on its cash divestiture to the pharmaceuticals and specialty products distributor.
Kettering Health may bring Knox Community Hospital under its wing. The two have signed a nonbinding letter of intent to explore a merger, with a completed deal tentatively targeting the end of the year. It would grow the Ohio system to 15 hospitals.
Salem Health and Santiam Hospital have had their request for an emergency exemption to merger regulatory review approved by the Oregon Health Authority. The state body determined that the hospitals’ current financial situation “immediately threatens healthcare services and the proposed transaction is urgently needed to protect health consumers,” per a statement given to the press. The deal hasn’t been finalized yet, as it is still subject to federal review.
Baptist Health acquired Magnolia Regional Medical Center in Arkansas. The 25-bed hospital was rebranded as Baptist Health Medical Center-Magnolia.
North Star Health Alliance, which declared bankruptcy earlier this year, said in a release and filings that it is pursuing a strategic partnership with Rochester Regional Health to bring its finances and operations back on track. Rochester, meanwhile, said it has no agreement or binding relationship in place with the fellow New York system.
Saint Raphael Health acquired nearly all of the assets of First Baptist Medical Center in Dallas, bringing the small hospital under new ownership.
Huntsville Hospital Health System closed a deal to affiliate with Lakeland Community Hospital. The deal “is not an acquisition or purchase” but creates a partnership between the system and the 25-bed critical access hospital, providing resources and strategic guidance.
University of Mississippi Medical Center received a bankruptcy judge’s approval to take over Greenwood Leflore Hospital. The transfer of assets, a donation, was scheduled for the end of July, with the transaction becoming effective Aug. 1. The 25-bed public hospital declared bankruptcy in April.
AmSurg, the ambulatory surgery platform recently picked up by Ascension, acquired five eastern and central North Carolina endoscopy centers.
Payer
Optum Financial closed its acquisition of Alegeus, a health benefits administration platform. Alegeus administers for more than 26 million members across various types of accounts, including consumer-directed healthcare (CDH) accounts, health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs) and COBRA. It partners with health plans, third-party administrators and other financial institutions.
Included Health, a virtual care and health navigation company, penned a deal to acquire Firefly Health. The deal, expected to close in the third quarter, looks to help Included scale health plan alternatives for employer customers. Financial details were not disclosed.
Tech
IKS Health wrapped its loan-funded $557 million acquisition of TruBridge. The pickup combines IKS Health’s care enablement capabilities with TruBridge’s revenue cycle management and electronic health records (EHRs) solutions for rural and community hospitals.
Frazier Healthcare Partners, a private equity firm, has entered into a definitive agreement to acquire the cloud-based electronic health record provider MatrixCare from its current owner, the health tech company ResMed. The $490 million all-cash transaction also includes software offerings sold under the MatrixCare brand, such as Healthcare First and Citus.
VSee Health, a telehealth and digital health company, said it plans to acquire an unspecified “vertically integrated healthcare commerce platform” that’s “serving the United States clinic-based wellness market.” The company described its deal as “highly profitable,” and that the current annual run rate for the target assets “is in excess of $35 million, and EBITDA is approximately $7 million.”
Doctronic, an AI-native virtual primary care provider, acquired text-based pediatric care platform Summer Health for an undisclosed sum. Doctronic executives told Fierce Healthcare that Summer’s model and deep pediatric expertise, which support more than 100,000 pediatric encounters, are a close complement to its business.
Nexus (formerly Nexus Bedside), which provides a clinical operating system for inpatient units, closed an acquisition of Telemetrix RPM, an Epic-native patient monitoring and chronic care management company, for an undisclosed sum. Nexus said the purchase extends its system outside of the hospital and into the home.
Experity, which sells practice management tools to urgent care facilities, acquired revenue cycle software and services company Exdion Healthcare for an undisclosed sum. The company touted Exdion’s autonomous processing of patient visits, and noted that an insurance-focused affiliate is not included in the deal.
Novanta wrapped its acquisition of Riverpoint Medical from Arlington Capital Partners. Adding the surgical consumables and related technology producer to the broader medical and technology equipment company is expected to double Novanta’s recurring medical consumables revenue to about $300 million, and generate “a high single-digit return on invested capital by year three,” Novanta said in an investor announcement.
Focus, a managed IT, cybersecurity, cloud, data and strategic advisory services company, is acquiring fellow healthcare managed technology services company GuideIT for an undisclosed sum. Focus said it entered into a definitive transaction agreement to flesh out its goal of providing customers with a single accountable operating partner rather than multiple tech services relationships.
Serelora, an agentic electronic health record vendor, said it acquired clinical risk stratification software from ACTIN Care Groups for an undisclosed sum. The pickup includes the WellCheck preventive risk battery and helps push the company’s platform into population-level analysis.