Merger Roundup—Jefferson Health to acquire Einstein Healthcare; Ascension sells hospital to Hartford HealthCare

Handshake business deal executives
Regional health systems in Pennsylvania, Connecticut and West Virginia inked deals to expand their operations. (Pixabay)

Thomas Jefferson University to acquire Einstein Healthcare Network

In a bid to scale its operations in the Philadelphia region, Thomas Jefferson University agreed to a preliminary deal to acquire Einstein Healthcare Network. Thomas Jefferson and Einstein have a longstanding academic relationship, and the merger is a natural extension of their shared goals, officials said in an announcement. The deal, once it clears regulatory hurdles, would create the largest residency program in the greater Philadelphia region, and would unite two nationally-recognized regional rehabilitation hospitals.  (Announcement)

RELATED: Kaufman Hall: Number of hospital mergers jumped 13% in 2017; M&A momentum shows no signs of slowing down

Hartford Healthcare to purchase St. Vincent’s Medical Center from Ascension

Hartford HealthCare, among the largest players in Connecticut’s healthcare market, has signed a nonbinding letter of intent to purchase St. Vincent’s Medical Center in Bridgeport, Connecticut from Ascension Healthcare. The deal would add assets including a licensed 473-bed community teaching hospital and a 76-bed inpatient psychiatric facility, as well as St. Vincent’s Special Needs Services and a multispecialty provider group. St. Vincent’s College would not be included in part of the deal, and Ascension notes that per the agreement, Hartford would continue to operate the hospital “in compliance with Catholic traditions.” (Announcement)

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Vatican approves acquisition of St. Mary’s Medical Center by Cabell Huntington Hospital, Inc.

A definitive agreement signed between West Virginia’s Pallotine Health Services and Cabell Huntington in late 2014 received approval from the Vatican, ending the involved process required for formal transfer of sponsorship between the two organizations. Under the agreement, St. Mary’s will remain a Catholic-affiliated healthcare facility, and it will retain its name. (Announcement)