Healthcare Dealmakers—UnityPoint, Presbyterian plan 40-hospital merger; CVS closes $8B Signify purchase and more

Healthcare mergers and acquisitions are in no short supply as providers, health tech companies, retailers 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 March.


UnityPoint Health and Presbyterian Healthcare unveiled plans to merge and form a 40-hospital nonprofit system. The organizations have signed a letter of intent “to explore the formation of a new healthcare organization” but did not discuss a potential timeline. The resulting entity would span four states and reach more than 4 million patients and members through its health and insurance services.

CVS has closed its $8 billion deal to acquire health services company Signify Health. The deal for the value-based care platform is the latest in CVS’ push toward vertical integration. It was shortly followed by word that CVS also plans to close its complementary $10.6 billion acquisition of Oak Street Health by this July. Oak Street Health includes a network of over 300 clinics and a tech platform that CVS said it plans to scale once the deal comes together.

Genesis Health System officially joined MercyOne about half a year after the pair announced plans to merge. The former is active in eastern Iowa and western Illinois’ Quad Cities region and comprises six medical centers and 100 other care sites. MercyOne (part of Trinity Health) is a 16-hospital Catholic system active across Iowa. Prior announcements had stressed that the deal wasn’t made out of financial need, but as a way for Genesis to solicit “significant investments” toward growth.

Covenant Health has reportedly tossed its plans to acquire Connecticut-based Day Kimball Healthcare. An executive said that the deal was called off due to financial concerns, though it also saw local opposition due to concerns that the Catholic system would limit reproductive health services.

VillageMD, a Walgreens-backed primary care chain, announced the acquisition of Connecticut-based primary care and multispecialty group Starling Physicians. The deal brings more than 30 locations to VillageMD’s 700-plus tally, which the company has been working to bolster in recent months with a handful of other purchases. Terms for the latest pickup were not disclosed.

Franciscan Missionaries of Our Lady Health System, a 10-hospital organization based in Louisiana, is working with the Jackson County Board of Supervisors to acquire Singing River Health System, a publicly owned three-hospital system.

Wellstar Health System will be taking control of the Augusta University Health System after the boards voted to approve an affiliation agreement and 10-year, $800 million investment by Wellstar. Once closed, Medical College of Georgia will be rebranded as Wellstar MCG Health and funds will be put toward a new hospital and other facilities. Of note, the deal comes amid pushback over Wellstar’s decision to shut down its Atlanta safety-net sites due to financial losses.

Atlantic Health, in New Jersey, acquired Thompson Healthcare & Sports Medicine. The practice has 11 locations and over 75 providers.

UPMC acquired Sports Surgery Clinic in Dublin, adding a fourth hospital and several sports medicine facilities to its presence in the country.


UnitedHealth Group’s purchase of Change Healthcare is in the clear after the federal government and several states officially dropped plans to appeal a judge’s ruling that permitted the $13 billion deal. Court documents did not specify why the government chose to voluntarily dismiss its challenge of the merger, which closed in October.

Elevance Health is selling off its life and disability and other related business lines to Portland, Oregon-based disability and life insurance and employee benefits provider The Standard. Terms of the deal were not disclosed, though the companies said they will also be entering into a product distribution partnership following the close.


Transcarent is acquiring a portion of virtual care company 98point6 for a reported $100 million valuation. The deal will add 98point6’s physician group and some AI-powered virtual care components to Transcarent's employer-serving platform. The deal will see hundreds of 98point6's existing employer, health system and payer partners including Boeing, Kindercare and Banner|Aetna gain access to Transcarent's broader suite of services.

WeightWatchers is acquiring Sequence, a digital health platform for clinical weight management, in a cash and equity transaction with a net purchasing price of $106 million. Sequence is used by clinicians providing chronic weight management care. The deal will give the D2C weight loss brand an avenue to remotely prescribe high-demand weight loss prescriptions such as Ozempic or Wegovy.

PointClickCare, a long-term and post-acute care technology company, said it has acquired value-based EHR and integrated care management platform Patient Pattern for an undisclosed sum.  

SonderMind, a therapist-matchmaking and mental health care platform, bought out some of the technology assets and staff of struggling startup Mindstrong. The nine-year-old company worked on applying AI and passive sensors to track mental health symptoms before pivoting to app-based mental health care. Terms were not disclosed.

Maven Clinic, a virtual women’s health clinic and benefits platform, bought London-based digital health company Naytal in preparation for a U.K. and European expansion. Terms of the deal were not disclosed.


HMC Capital, an Australian private equity firm, reportedly signed a $1.2 billion deal to acquire the real estate of 11 U.S. hospitals from Medical Properties Trust.

Chartis, a healthcare advisory firm, announced the acquisition of Chi-Matic, a Wisconsin-based consulting organization that helps Epic-based healthcare companies optimize their revenue cycle.

Fifth Third Bancorp signed a definitive agreement to purchase Big Data Healthcare, adding national healthcare revenue cycle capabilities for the bank’s healthcare sector clients.