Literature Review

University of Kentucky moves ahead with acquisition of St. Claire HealthCare Spectrum News 1; by Chris Hughes; 4/26/24 The University of Kentucky Board of Trustees approved plans to move ahead with the acquisition of St. Claire HealthCare in Morehead, expanding its footprint in the eastern part of the state. ... The two institutions are eyeing a targeted closing date of July 1. St. Claire HealthCare is one of the largest employers in the greater Morehead region, with over 1,300 employees, including over 50 physicians and nearly 50 advanced practice professionals representing more than 20 medical specialties. ... St. Claire also provides home health and hospice services in eight counties. 

PE-Backed Legacy Hospice acquires HomeCare HospiceLevin Associates; by Avery Swett; 4/19/24 Legacy Hospice, backed by the Chicago-based private equity firm Prairie Capital, announced this week its acquisition of HomeCare Hospice ... HomeCare Hospice is a leading provider of hospice and palliative care services throughout the state of Mississippi. The company operates four locations across the state. 

Analysts not ruling out Cigna, Humana mergerBecker's Payer Issues, by Rylee Wilson; 4/22/24A merger between Humana and Cigna could still be in the cards according to one analyst, Bloomberg reported April 22. "The math now works for a [Cigna and Humana] fusion," Jeffries analyst David Windley wrote April 22. Since the two companies abandoned a proposed merger in December, Cigna's stock prices have risen by 37% and Humana is down 31%, according to Bloomberg. Cigna could strike a deal to acquire Humana for around $420 per share, Mr. Windley wrote in a note to clients. An acquisition would add to Cigna's growth if it does not pay more than $470 per share for the company, according to Jeffries.

Oaks sells nursing home to national operator The Times and Democrat, by Gene Zaleski; 4/13/24 The Oaks Healthcare, the nursing home segment of The Oaks of Orangeburg (SC), has sold its nursing home services to Cascade Capital Group, a Skokie, Illinois-based private health care real estate investment and asset management firm. ... The Oaks will become PACS' 25th nursing home in the state and will join over 220 other nursing homes that PACS operates throughout the country. ... [The Oaks of Orangeburg manager] Clay Fowler said the changes will enable a greater focus on the PACE program. The program was rebranded as the Orangeburg Senior Helping Center-A PACE Healthcare Program in February 2022.

Jefferson CEO lays out Lehigh Valley integration plan Modern Healthcare, by Alex Kacik; 4/9/24 Jefferson Health and Lehigh Valley Health Network will soon take the next steps toward the formation of a $15 billion nonprofit health system. Philadelphia-based Jefferson and Lehigh in December signed a non-binding letter of intent under which Jefferson would merge with Lehigh. The organizations plan to sign a definitive agreement this month, Jefferson CEO Dr. Joseph Cacchione said. 

Kaiser closes Geisinger Health acquisition, forming Risant Health Modern Healthcare, by Caroline Hudson; 4/2/24Kaiser Permanente has acquired Geisinger Health and folded it into Risant Health, a new nonprofit formed to create a national value-based care network.

After Empath Health, Trustbridge complete affiliation, ‘Home Health is high on priority list’ Home Health Care News, by Andrew Donlan; 4/1/24 Last September, the post-acute providers Empath Health and Trustbridge signed a memorandum of understanding to begin an affiliation process. On Monday, that affiliation process was completed, forming the largest nonprofit post-acute provider organization in the state of Florida. Together, the organization will care for 5,000 patients daily and employ more than 5,000 staff members and 3,000 volunteers.

UCI Health completes acquisition of 4 Tenet hospitals Becker's Hospital Review, by Naomi Diaz; 3/27/24 Orange, CA-based UCI Health has completed its acquisition of Tenet Healthcare's Pacific Coast Network, which includes four hospitals in Southern California and their associated outpatient locations. As part of the agreement, Dallas-based Tenet's medical centers — Fountain Valley Regional Hospital, Lakewood Regional Medical Center, Los Alamitos Medical Center and Placentia-Linda Hospital — will now be part of UCI Health, according to a March 26 news release from UCI Health. The hospitals were sold for $975 million.

Steward to sell 'highly desired' physician group to Optum Becker's Hospital CFO Report, by Alan Condon; 3/27/24 Dallas-based Steward Health Care plans to sell its physician group to UnitedHealth Group's subsidiary Optum, The Boston Globe reported March 26. The proposed sale of Stewardship Health is part of the 33-hospital system's plan to shore up its finances amid ongoing challenges, including falling behind in paying bills and rents. If approved, physicians who work at Steward facilities across nine states would be employed by Optum, the largest employer of physicians in the U.S.

Private equity more common in Massachusetts health care: Steward crisis has state on hunt for possible legislative response 22 News WWLP.com; by Ashley Shook, Alison Kuznitz, Chirs Lisinski; 3/26/24 The pressure points inflicted by private equity ownership in health care extend far beyond Steward Health Care, and lawmakers have a long menu of policy reforms they can consider to erect new guardrails in a changing environment, experts said Monday. Pushed into public-facing action after a long-simmering financial crisis at Steward burst into public view this year, lawmakers convened a public hearing to explore how deeply private equity has taken root in the Bay State’s health care system and what policymakers should do to prevent harm to patient care. 

Deal or No Deal: The futures of 3 home-based care companiesHome Health Care News; by Andrew Donlan; 3/21/24 Most buyers in home health and personal care are signaling they'll be more active in the M&A market this year. There are three major home-based care deals that have happened, or may happen, in the near-term future. All of them could have significant ripple effects. 

Oregon's health authority reviewing UnitedHealth's acquisition of Amedisys Reuters, by Leroy Leo; 3/19/24 Amedisys said on Tuesday Oregon's health authority has started a review of UnitedHealth Group's $3.3 billion acquisition of the home health and hospice caregiver. UnitedHealth had announced the acquisition in June, after competing with Option Care Health. 

Private equity-backed consolidation divides physicians Modern Healthcare, by Alex Kacik; 3/18/24 ... Fewer physicians — only 46.7% in 2022 compared with 60.1% in 2012 — work in practices wholly owned by doctors amid struggles to manage reimbursement cuts, regulation and rising expenses. As a result, more physicians are joining health systems, private equity-backed management services organizations and insurers. That trend has spurred research, lobbying groups, regulation and legislation on physician employment models.