
M&A
Continuing a Non-Profit Hospital’s Charitable Mission through Mergers and Acquisitions
Business combinations between acute care non-profit hospital companies continue at a pace not seen since the 1990s. Participants are proactively entering the market for corporate control in an effort to...
Read MoreCritical Issues in Hospital and Health System M&A
Since the enactment of the Affordable Care Act, the pace of hospital and health system consolidation has accelerated to a level not seen since the late 1990s, when hospitals were...
Read MoreDeveloping a Hospital Transaction Strategy and Process
Pursuing a transaction is among the most significant actions that a hospital board and management team can undertake in the life of an institution. It also is the riskiest. Economic...
Read MoreConsolidation in Commercial Banking Offers a Glimpse of Health Care’s Future
Payment reform poses a seemingly endless list of complex, interrelated questions. For the trustees and executives responsible for guiding their institutions through this unfamiliar terrain, the best answers to those...
Read MoreHospital M&A Transactions: A Focus on Retiring Liabilities
The volume of business combinations involving non-profit hospitals is at the highest level of the last decade. The macro-economic forces spurring industry consolidation and rationalization are weighing heavily on management...
Read MorePreparing a Hospital or Health System for Sale or Partnership Transaction
The consolidation trend in hospital and health systems continues. At this time, horizontal consolidation (hospital to hospital combinations) are keeping pace with vertical consolidation (hospital acquisitions of ancillary providers and...
Read MoreMulti-State Non-Profit Health Systems: Why There Are Not More, but Soon Will Be
After several years of enthusiastic merging and acquiring, multi-hospital systems now own approximately 70 percent of all U.S. hospitals not owned by a government entity. There are more than 400...
Read MoreConsolidation in the Commercial Banking and Hospital Industries
Banks have become so large that many critics view them as unmanageable, too large for government bailout, or too big to fail. Alternatively, the highly fragmented hospital industry is accused...
Read MoreCurrent Trends in Hospital Mergers and Acquisitions
Healthcare reform will result in more consolidation and integration among hospitals, reversing a recent trend in which hospitals tended to stay away from such transactions. Regardless of the ultimate fate of...
Read MoreProtecting Corporate Value During an Ownership Transition
Much has been written about the fiduciary responsibilities of hospital boards that are considering business combinations. Another important issue that has received less attention is leadership continuity throughout the transaction...
Read MoreWhy Are So Many Merger Transactions Failing to Close?
During the past year, a startlingly-large number of announced merger agreements were terminated. These transaction failures represent a phenomenon that has great significance for many non-profit boards and managements, however,...
Read MoreHospital Consolidation Trends in Today’s Healthcare Environment
Economic and health policy experts seem to agree that healthcare delivery is a “market failure.” The U.S. spends much more on healthcare than countries with similar economies—16 percent of the...
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