By Dana Jacoby
Notable Movers and Shakers in the Medical Market
The past year has brought us several hospital acquisitions, with many significant players making strategic moves to grow their operations.
In this blog post, we highlight 10 of the most intriguing transactions that have taken place in the healthcare sector over the past 12 months. Look for these to impact the M&A market for the rest of 2023.
Geisinger Health > Kaiser Permanente
Kaiser Permanente will absorb Geisinger Health and create a new nonprofit organization called Risant Health. The new entity will establish a multisystem value-based care organization.
Oak Street Health > CVS
CVS Health’s Oak Street Health acquisition is part of its strategy to expand its presence in the primary care and Medicare space and will add 88 new centers to its network.
Mediclinic International > Investment Consortium
The Dubai-based private hospital group was acquired by a consortium of investors for $7.4 billion led by Ares Management Corporation and the Abu Dhabi Investment Authority. The deal takes Mediclinic private.
Cigna (benefits) > Chubb
The multinational insurance company Chubb consumed Cigna’s life, accident, and supplemental benefits businesses in a cash deal, which added more than 12 million customers to Chubb’s customer base.
Steward Health Care > CommonSpirit Health
CommonSpirit Health has bought five Utah hospitals from Steward Health Care. The Catholic health system announced the deal in February and officially took ownership of the hospitals, expanding its healthcare presence in the Beehive State.
Ortho Clinical Diagnostics > Quidel Corporation
The California-based diagnostic testing company acquired Ortho Clinical Diagnostics in a cash-and-stock deal to expand its product offerings and global reach in the in-vitro diagnostics market.
OneOncology > AmerisourceBergen Corp/TPG
The companies announced plans to purchase specialty practice network OneOncology from growth equity firm General Atlantic, leaving private equity firm TPG with the majority interest in OneOncology.
HCA Healthcare > LCMC Health
LCMC Health secured three Tulane University hospitals from HCA Healthcare at a price of $150 million in a deal approved by state regulators in January. However, the FTC intervened and threatened daily fines until another review was underway.
Carle Health & UnityPoint
Carle Health and UnityPoint completed an integration deal that brings three UnityPoint hospitals and other associated locations in Illinois under Carle’s wing.
Crystal Run Healthcare > UnitedHealth Group
UnitedHealth Group acquired Crystal Run Healthcare for its Optum Health subsidiary. The New York-based physician group has around 400 doctors, while Optum has more than 70,000.