Summit BHC (“Summit”), a leading national provider of behavioral health and addiction treatment services based in Franklin, Tennessee, continues to expand its national footprint with the acquisition of seven psychiatric hospitals in six states from Strategic Behavioral Health. The seven hospitals are: Eagle View Behavioral Health in Bettendorf, Iowa; Peak Behavioral Health in Santa Teresa, New Mexico; Carolina Dunes Behavioral Health near Wilmington, North Carolina; Creekside Behavioral Health in Kingsport, Tennessee; Palms Behavioral Health in Harlingen, Texas; Willow Creek Behavioral Health in Green Bay, Wisconsin; and Miramont Behavioral Health near Madison, Wisconsin. These hospitals have a total of 613 inpatient psychiatric beds serving children, adolescents, adults, and seniors.
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) announced Monday the Company has completed the acquisition of CenterPointe Behavioral Health System, the largest dedicated behavioral healthcare provider in the state of Missouri. The acquired assets consist of four inpatient hospitals with 260 acute care beds and 46 specialty beds for substance use and 10 outpatient locations. CenterPointe operates behavioral health networks through regional hubs in St. Louis, Kansas City and Columbia.
PAM Health (formerly Post Acute Medical) announced that it has acquired 16 specialty hospitals (eight long-term acute care hospitals and eight inpatient rehabilitation hospitals) from Curahealth and Nautic Partners, LLC. The hospitals, which are located in Arizona, Texas, Colorado, Indiana, Florida, Oklahoma, Louisiana, Tennessee, and Pennsylvania, provide growth and strategic opportunities for the company. PAM will continue to employ many key staff members from the Curahealth organization. Based in Enola, Pennsylvania, PAM provides healthcare services in 17 states through more than 60 long-term acute care hospitals and inpatient medical rehabilitation hospitals, as well as 18 locations that also provide outpatient therapy.
Boston Children’s Hospital, the region’s dominant pediatric health care provider, said Tuesday that it plans to acquire Franciscan Children’s in Brighton as part of a strategy to boost mental health services for young patients. The deal would fold Franciscan Children’s into Boston Children’s, giving the larger hospital more power in the local health care market, and hospital officials said it would allow them to better respond to children in mental health crises awaiting psychiatric treatment. Franciscan Children’s was founded in 1949 by the Franciscan Missionaries of Mary, an order of Catholic nuns. It specializes in treating mental health disorders and in rehabilitating severely ill children, including premature babies who need breathing tubes.
California Attorney General Rob Bonta has conditionally approved the sale of Adventist Health Vallejo (Adventist Vallejo), an acute psychiatric inpatient hospital, to Acadia Healthcare Company Inc. (Acadia). The Attorney General’s conditions, upon which the sale is contingent, address the risk of price increases in the limited market for acute psychiatric services in Northern California and ensure the availability of high-quality services for patients in the region, including those under the age of 18.
Behavioral health has been of one of the most active sectors in the healthcare transaction marketplace in recent years. Driven by plentiful investment capital, regulatory changes, the opioid crisis, public recognition of the need for mental healthcare and broader coverage from payors, the industry has seen numerous companies pursue consolidation strategies. A common trend that has emerged in the behavioral health industry involves the proliferation of joint ventures between non-profit health systems and for-profit companies to operate full service behavioral health hospitals.
LifePoint Health has signed a definitive agreement to acquire Kindred Healthcare, the for-profit health systems announced Monday. The transaction would create a massive national health system that combines LifePoint’s 87 hospitals with Kindred’s vast post-acute footprint. In addition to the transaction, LifePoint plans to invest $1.5 billion in the new entity over the next three years, the organizations said in a news release. LifePoint has hospitals in 29 states as well as more than 50 affiliated post-acute providers and 35 outpatient facilities. Kindred operates 62 long-term care hospitals, 25 inpatient rehabilitation facilities, more than 100 acute rehabilitation facilities and two behavioral health centers.
Select Medical Corporation (NYSE: SEM) today announced that it has entered into a series of transactions that will result in the company operating seven new critical illness recovery hospitals, licensed as long-term acute care, and eight new outpatient clinics through acquisitions and new joint venture partnerships. Select Medical has signed definitive agreements to acquire Acuity Healthcare, which owns and operates four long-term acute care hospitals and one satellite serving regions in New Jersey and West Virginia. Select Medical and Northwest Healthcare, a subsidiary of Community Health Systems, have signed a joint venture partnership to acquire Curahealth Tucson, a 47-bed long-term acute care hospital.
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.
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