For-profit Steward Health Care System is slowly remaking Massachusetts' hospital operations through the acquisition of facilities, reported The Patriot Ledger.
Steward's most recent pending acquisition of New England Sinai Hospital in Stoughton would give it ownership of 10 facilities in the Bay State, the article noted.
The deal follows up on the acquisitions of the Caritas Christi hospital system, Quincy Medical Center and other facilities over the past couple of years. The Massachusetts hospital chain has focused on acquiring financially distressed facilities and improving their operations.
Industry observers believe market pressures and uncertainties are driving the merger and acquisition activity. "We think there's anticipation of a brave new world once the affordable care act comes fully online," Martin Gaynor, an economics professor at Carnegie-Mellon University, told the newspaper. "Being big will be important."
Meanwhile, Steward recently sold a portfolio of medical office buildings to an Arizona-based real estate investment trust in order to focus more on its hospital operations, the New England Business Bulletin reported.
To learn more:
- check out the Patriot Ledger article
- read the New England Business Bulletin article