ProMedica Scoops Up Nursing Home Provider: ‘When You Look At The Trends … You Fight It Or Go All In’
The move is just the latest in a flurry of acquisitions and mergers that are taking place in the ever evolving health care landscape.
ProMedica To Acquire HCR ManorCare
Not-for-profit health system ProMedica is taking a giant step outside of the traditional hospital space with its plan to acquire bankrupt nursing home provider HCR ManorCare for about $1.4 billion through a complex proposed deal. Running parallel to the deal is real estate investment trust Welltower's agreement to buy HCR's landlord, fellow REIT Quality Care Properties, in a cash deal for $20.75 per share, or roughly $2 billion. Welltower and ProMedica also formed a joint venture for QCP's real estate in which Welltower will own 80% and ProMedica will own 20%. (Bannow, 4/26)
In other health industry news —
Dallas Morning News:
Tenet Spends $630 Million To Boost Stake In Addison-Based Outpatient Surgery Company
Tenet Healthcare has spent $630 million to increase its stake in an Addison-based company that operates a 28-state network of outpatient surgery, imaging and urgent care facilities. Tenet, a national hospital operator based in Dallas, now owns 95 percent of United Surgical Partners International, an announcement Thursday said. Baylor University Medical Center owns the other five percent. (Rice, 4/26)