The top deals to know this week
*NOT FOR EXTERNAL DISTRIBUTION*
Source: Modern Healthcare
Author: Staff
Date: January 10, 2025
Healthcare companies kicked off 2025 with a flurry of merger and acquisition announcements.
Here's a look at the top healthcare deals this week.
Molina, Innovive partner on Medicaid patients
Molina Healthcare of Iowa is teaming up with Innovive Health to provide in-home healthcare services for Medicaid patients with serious medical and behavioral health issues.
Prime Healthcare Foundation to acquire Central Maine Healthcare
The Prime Healthcare Foundation plans to acquire Central Maine Healthcare by the end of the year.
The transaction involves three hospitals — Central Maine Medical Center in Lewiston, Bridgton Hospital and Rumford Hospital — in addition to two senior living facilities, a cancer care center, more than 40 physician practices and the Maine College of Health Professions. It is subject to regulatory approval, according to a news release.
H1 acquires Ribbon Health, adds FDA's Stephen Hahn to board
H1 acquired fellow health data company Ribbon Health, kicking off what could be a flurry of merger and acquisition activity in the sector this year.
Financial terms of the deal, which closed Dec. 12, were not disclosed. The transaction involved a mix of cash and stock options, said H1 CEO Ariel Katz.
HCA to purchase Catholic Medical Center
HCA Healthcare received approval from the New Hampshire attorney general’s office to acquire not-for-profit Catholic Medical Center in Manchester. Once the $110 million transaction is completed, the 330-bed facility will be the for-profit health system’s fourth hospital in the state.
HCA and the medical center have been working on a purchase agreement since September 2023, according to CMC. A key part of the deal is the creation of a nonprofit foundation to serve the Manchester community.
Transcarent to acquire Accolade
Transcarent is acquiring Accolade for approximately $621 million, the company said.
Transcarent, which connects self-insured employer customers to behavioral health, urgent care, cancer care, pharmacy and weight management services, is purchasing Accolade for $7.03 per share in cash. Accolade provides healthcare navigation and engagement tools to employers.
OSF HealthCare adds St. Katharine Medical Center
Peoria, Illinois-based OSF HealthCare formally added St. Katharine Medical Center in Dixon, Illinois, to its network. The 80-bed facility, previously known as Katherine Shaw Bethea Hospital, is OSF's 17th hospital.
The two organizations signed a letter of intent in spring 2024 for the deal before finalizing agreements and obtaining regulatory approvals. OSF now operates 16 hospitals in Illinois and one in Michigan’s Upper Peninsula.
Related: OSF HealthCare returns to its home care roots with PACE
Stryker to acquire Inari Medical
Stryker plans to acquire Inari Medical in a deal valued at $4.9 billion and designed to strength its position in the peripheral vascular market.
The deal, approved by both companies’ boards, is expected to close by the end of the first quarter. Stryker will purchase Inari's common stock for $80 per share.
Oceans Healthcare acquires Haven Behavioral Healthcare
Oceans Healthcare, a Plano, Texas-headquartered provider of inpatient and outpatient behavioral health services, acquired all outstanding shares of Nashville, Tennessee-based Haven Behavioral Healthcare, which offers specialty behavioral health services.
The deal adds five states — Arizona, Idaho, Ohio, New Mexico and Pennsylvania — to the Oceans Healthcare footprint, bringing the total to nine. Financial terms of the transaction were not disclosed.
Quote of the week
“Private equity has infected our healthcare system, putting patients, communities and providers at risk. As our investigation revealed, these financial entities are putting their own profits over patients, leading to health and safety violations, chronic understaffing, and hospital closures."
—Sen. Sheldon Whitehouse (D-R.I.) on the bipartisan Senate report on private equity's effects on healthcare