Healthcare mergers and acquisitions are in no short supply as providers, health tech companies, payers and other industry players look to expand their businesses and gain a competitive edge. Here’s a roundup of new deals that were revealed, closed, rumored or called off during the month of April.
Provider
Community Health Systems wrapped up the $459 million sale of its Crestwood Medical Center to Huntsville Hospital Health System. The 180-bed Alabama hospital is joined by its associated sites and will see investments in equipment, technology and nurse compensation, its new owner said.
Community Health Systems also completed a deal for majority ownership interests in the South Anchorage Surgery Center, an ASC in Alaska, and signed another to acquire Surgical Institute of Alabama, another ASC, during the second quarter. Financial terms were not disclosed.
UConn Health has signed letters of intent with Bristol Health and Day Kimball Hospital to add the two hospitals to its UConn Health Community Network. Both prospective deals will require Certificate of Need approvals from the state. The academic system also has advanced plans to take over a psychiatric center for adolescents, the Albert J. Solnit Children’s Center – South Campus, from the state.
Orlando Health will be acquiring RMC Health System, which comprises a municipally owned 375-bed medical center and other facilities in Northeast Alabama. The deal, financial terms for which were not disclosed, is expected to be completed in the fall and will add to Orlando Health’s growing presence in its neighboring state.
Quorum Health sold off Scenic Mountain Medical Center, a 146-bed community hospital, to Shannon Health Center. The deal grows Shannon's footprint to four hospitals in western Texas.
Baystate Health signed a definitive agreement to acquire Mercy Medical Center, a 182-bed hospital, plus its joint ventures and affiliated medical groups, from Trinity Health of New England (part of the larger Trinity Health). Financial terms for the western Massachusetts hospital were not disclosed.
West Virginia University Health System plans to add Fulton County Medical Center, a 21-bed critical access hospital, to its integrated network. The parties executed a non-binding letter of intent that outlines up to $17 million in commitments by WVU Health System over seven years to modernize the hospital.
Baptist Health struck a definitive agreement to acquire Magnolia Regional Medical Center, a 25-bed hospital in Arkansas. The deal will close on July 12, at which point the facility will be branded as Baptist Health Medical Center-Magnolia.
Providence signed a definitive agreement handing over its Queen of the Valley Medical Center and affiliated ambulatory clinics to NorthBay Health. Financial terms for the Napa-based, 198-bed facility were not disclosed. The transaction is expected to close later this year following regulatory review.
Prime Healthcare notched regulatory approval to purchase Franciscan Health Olympia Fields, which set a transaction date “on or around May 1.” With the addition of the 214-bed hospital, the organization will have 55 hospitals, and its ninth in Illinois. The deal includes a $5 million philanthropic contribution to Franciscan Alliance, its prior owner. Prime said it “will offer employment to substantially all employees and will continue charity care and community benefit programs.”
Witham Health Services, a 60-bed independent hospital in Lebanon, Indiana, signed a nonbinding letter of intent to join Parkview Health as its 16th hospital later this year. Regulatory review and a public hearing for community input would precede the transaction close.
Henry Ford Health System’s 3,400-person medical group added Cornerstone Medical Group, which has 80 physicians and advanced practice providers, as well as 25 offices around the Detroit area.
Payer
UnitedHealth Group sold off Optum UK to TPG, a deal bringing $400 million in net proceeds to the United Health Foundation. The divestiture of the subsidiary, which includes EMIS, a primary care EHR provider for much of the U.K.’s National Health Service, was disclosed in UnitedHealth Group’s Q1 earnings results.
UnitedHealth Group also said in its earnings that it entered a deal to acquire Alegeus Technologies, a tech platform providing benefits administration for consumer-directed healthcare accounts. The company said its transaction is expected to be earnings neutral to 2026 and close in the back half of the year, pending regulatory approval. A purchase price was not disclosed.
Centene Corporation subsidiaries Carolina Complete Health and WellCare of North Carolina announced plans to merge, yielding an organization with nearly a million members across Medicaid, Medicare and the Marketplace. The entity, which will use Carolina Complete Health’s branding, will continue to support its plans serving about 240,000 Carolinians with behavioral health and intellectual or developmental disabilities.
CareSource and Community Care, Inc., nonprofit managed care organizations respectively based in Ohio and Wisconsin, said they’ve received the needed regulatory approvals to move forward on their affiliation. The deal marks the second Wisconsin plan to join CareSource in recent years.
Tech
Anthropic acquired Coefficient Bio, a biotech startup that uses AI to boost efficiency in drug discovery and biological research, in a $400 million stock deal. The deal comes as Anthropic has worked to bolster its healthcare presence with new life sciences and healthcare product launches in the past six months.
Inventurus Knowledge Solutions (IKS) Health entered into a definitive agreement to acquire TruBridge for approximately $557 million. The deal is funded by a roughly $600 million loan over the next five years. The transaction will combine IKS Health’s care enablement capabilities with TruBridge’s revenue cycle management and electronic health records (EHRs) offerings for rural and community hospitals.
One Call, a care coordination company, acquired electronic data interchange, clearinghouse and technology service company Data Dimensions. The deal will help One Call offer an end-to-end infrastructure that combines intake, clinical coordination, data exchange and payments, it said. Financial terms were not disclosed.
Azra AI, which sells oncology workflow automation and care coordination tools, acquired lung cancer screening and incidental findings management technology company Thynk Health. The companies’ combined platforms currently process over half a billion clinical reports and messages per year across hundreds of hospitals, they said. Financial terms were not disclosed.
Qualifacts, a behavioral health record vendor, acquired MethodOne by Computalogic, whose software supports medication dispensing for opioid treatment programs. Financial terms were not disclosed.
Medisolve, a healthcare quality data management technology solver, acquired Health Elements AI. The acquiree develops technology to capture and structure clinical data from records for use in quality reporting and clinical registries. Financial terms were not disclosed.
Oura, maker of a smart ring health wearable, acquired AI personal health companion startup Galen AI “to help accelerate Oura’s AI-powered vision for a connected health companion.” Financial terms were not disclosed.
Noom, a behavioral change digital health app, acquired Tailor Made Compounding, a 403A pharmacy operating in 36 states. Noom said the deal will help it expand beyond weight health into peptide-based therapies for healthy aging. Terms were not disclosed.
ModMed, which sells specialty medical practice health IT offerings, acquired patient engagement AI company Bonsai Health. Financial terms were not disclosed.
ESO Solutions, a data services and software company that sells to first responders, acquired emergency department performance insights platform d2i. Financial terms were not disclosed.
Kipu Health, a behavioral health software company, reportedly acquired Team Recovery Technologies, which makes patient engagement tools and offers consulting services.
Miscellaneous
The American Foundation for Suicide Prevention and The Jed Foundation announced plans to merge and become the largest suicide prevention nonprofit in the country. The deal is expected to close this fall and would create an organization with an annual operating budget of about $75 million and net assets of around $140 million.