Seven months after signing a letter of intent to explore a possible acquisition, Beth Israel Lahey Health says it has forged a definitive agreement to acquire Joslin Diabetes Center. The deal, which will require regulatory approval from multiple state agencies and likely federal authorities, extends a clinical affiliation that Beth Israel Deaconess Medical Center (BILH) has had with Joslin for several decades. It also continues a trend in which specialty hospitals are being acquired by larger state systems. The merger would bring 50 physicians and 500 Joslin employees into the BILH network, which already boasts 4,900 physicians and 36,000 employees.
Franklin, Tenn.-based American Health Partners has agreed to become a subsidiary of the Mitchell Family Office, an investment firm that concentrates on the health care sector. American Health Care Partners provides a range of senior care services across nine states, including hospice. American Health Partners is currently privately owned. In addition to hospice, the company operates senior living, skilled nursing and rehabilitation facilities, home health, pharmacy and medical staffing businesses as well as psychiatric hospitals.
CMS wants to boost Medicare payments for inpatient rehabilitation facilities by 2.2% and inpatient psychiatric facilities by 2.3% next year, the agency said Wednesday. According to CMS, the changes would increase federal spending on inpatient rehab by $160 million compared to 2021. Likewise, federal spending on inpatient psychiatric facilities would go up by about $90 million. Regulators plan to require inpatient rehabilitation and psychiatric facilities to report COVID-19 vaccine coverage among their healthcare personnel.
Welsh, Carson, Anderson & Stowe is evaluating the sale of SpringStone, a network of behavioral healthcare hospitals it backed and founded over a decade ago, according to four sources with knowledge of the matter. The timing of a prospective sale comes as more individuals seek mental health services as a result of the pandemic, driving a massive need for more psychiatric hospitals.
To strengthen behavioral health services in Solano County, Adventist Health Vallejo, which has served as the county’s behavioral treatment center of choice for nearly 25 years, announced Tuesday it has signed a definitive agreement to sell the hospital and its behavioral health services to Acadia Healthcare (NASDAQ: ACHC), a leading provider of behavioral healthcare in the United States. Adventist Health Vallejo, a 61-bed psychiatric hospital that is operated as a service of Adventist Health St. Helena, provides inpatient and outpatient care.
Beth Israel Lahey Health has signed a letter of intent with Joslin Diabetes Center to explore acquiring the specialty diabetes hospital. In a release, both hospitals said the agreement is the first step toward a definitive agreement that would bring Joslin into BILH permanently, extending a clinical affiliation that Beth Israel Deaconess Medical Center has had with Joslin for several decades. Many speciality institutions have signed onto larger networks in recent years. Mass. Eye and Ear was acquired by Mass General Brigham (formerly known as Partners HealthCare) in 2018. In addition, New England Baptist, which specializes in orthopedics, was brought on as part of Beth Israel Lahey Health when the broader network was formed in 2019.
A local health-care management company has sold its controlling stake in Bakersfield Heart Hospital to a Tennessee-based group, the 47-bed facility announced Friday. According to a news release, Surgery Partners Inc. bought a majority interest in the medical center from Hospital Management Group. Terms of the deal were not disclosed. Surgery Partners, founded in 2004, owns and operates surgical hospitals, ambulatory surgery centers and physician practices. The company has more than 180 locations across 30 states.
Enhanced Healthcare Partners (“EHP”), a leading healthcare-focused private equity firm specializing in middle-market healthcare services businesses, is pleased to announce its investment in NeuroPsychiatric Hospitals (“NPH”), a leading provider of integrated healthcare for patients with acute psychiatric disorders and complex medical and neurological disorders. Founded in 2006, NPH utilizes an integrated model of care supported by an interdisciplinary team of healthcare practitioners to ensure the diverse needs of each of their patients are addressed. Unlike the traditional hospital emergency room or a psychiatric care facility where the clinical staff is not equipped to care for patients with both psychiatric and medical issues, NPH’s clinical staff have expertise across multiple disciplines including psychiatric, behavioral, neurological, and medical disorders.
Summit BHC (“Summit” or “the Company”), a leading provider of addiction treatment and behavioral health services, announced Thursday the acquisition of Highland Hospital, a 131-bed psychiatric facility in Charleston, West Virginia. This is Summit’s second acquisition in 2020 and its first facility in West Virginia. “The addition of Highland Hospital to the Summit family allows us to continue providing quality psychiatric care to our growing population of clients,” stated Jon O’Shaughnessy, CEO of Summit. “Highland Hospital has a solid history of treating patients in state-of-the-art facilities for all ages, as well as providing specific treatment options for people with drug and alcohol addiction.” Highland Hospital has 91 beds for inpatient acute psychiatric needs with an additional 24 beds dedicated to residential psychiatric treatment. Also, part of the acquisition, the Highland Health Center is a 16-bed crisis residential/detox substance use disorder facility licensed as a behavioral health center.
Kindred Healthcare, LLC (“Kindred”) announced Wednesday it has completed its acquisition of the WellBridge Greater Dallas and WellBridge Fort Worth behavioral health hospitals. WellBridge Greater Dallas and WellBridge Fort Worth provide a full continuum of inpatient and outpatient behavioral health services to senior and adult populations in the Dallas-Fort Worth metropolitan area and the greater North Texas region. Each hospital has 48 licensed beds and both are leaders in behavioral healthcare, with proven records of providing exceptional behavioral health services and superior clinical outcomes. Kindred plans to continue using the WellBridge name.
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