Lawrence General Hospital Expands Community Care with Acquisition of Steward Health Care’s Holy Family Hospitals
Transaction Announcement
Lawrence General Hospital (LGH), a prominent non-profit safety net hospital with a nearly 150-year legacy serving the Merrimack Valley community, has successfully acquired Holy Family Hospitals (HFH) located in Methuen and Haverhill, Massachusetts. Juniper Advisory is pleased to have advised LGH throughout this complex and strategic transaction.
This acquisition presents a unique opportunity for LGH to enhance healthcare services in the region, particularly following HFH’s recent financial difficulties and the Chapter 11 bankruptcy of its parent organization, Steward Health Care. With a commitment to community health, LGH aims to double its service footprint and address critical healthcare needs in the Merrimack Valley.
Juniper’s Role
Juniper Advisory played a vital role in this transaction, guiding LGH through the evaluation and acquisition process. This included developing a strategic rationale, identifying synergies, modeling post-transaction pro-forma enterprise financials and working capital needs, navigating the bankruptcy court process, negotiating a separate REIT lease buy-out with Medical Properties Trust, Macquarie, and ultimately Apollo, and coordinating key resources. With the steadfast leadership of Governor Maura Healey, LGH also secured significant support from the Commonwealth of Massachusetts, bolstering its capability to provide comprehensive care.
“This transaction reflects a broader trend in the healthcare sector, where community hospitals are seeking partnerships to enhance their service offerings and sustainability,” said Chris Benson, Executive Director, at Juniper Advisory. “Integrating HFH facilities into LGH will foster a more cohesive healthcare system that prioritizes patient-centered care and addresses healthcare disparities in the region.”
To learn more, please refer to the Lawrence General Hospital website. For more information about Juniper’s work and experience helping health systems explore partnerships, contact Chris Benson at 480.695.2311 or cbenson@juniperadvisory.com.
About Lawrence General Hospital
Lawrence General Hospital is a leading non-profit, safety net hospital dedicated to providing quality healthcare to the Merrimack Valley community for nearly 150 years. With a focus on patient-centered care, LGH aims to address healthcare disparities and improve health outcomes through a comprehensive range of services.
About Holy Family Hospital
Holy Family Hospitals, located in Methuen and Haverhill, Massachusetts, is committed to delivering high-quality, compassionate healthcare to the Merrimack Valley community. Offering a wide range of medical services, HFH prioritizes patient-centered care in a supportive environment. Following recent financial challenges related to its parent organization, Steward Health Care, HFH has been acquired by Lawrence General Hospital, positioning it to enhance its offerings and integrate into a comprehensive regional healthcare system for improved access to essential services.
About Juniper Advisory
Juniper is a specialized investment banking firm focused exclusively on non-profit hospital system mergers and acquisitions. The team is generally considered the most experienced in the country advising health systems on business combination transactions for four decades.