Wellmont Health System and Mountain States Health Alliance have received final approval from the Tennessee Department of Health to complete their merger, in today's bite-sized hospital and health industry news from Florida, Maryland, and Tennessee.
- Florida: James A. Haley Veterans' Hospital will add nearly 150 beds as part of a new $148.6 million, 245,000-square-foot tower located just to the east of the main hospital. The new tower, which is scheduled to be completed in 2021, will include 96 medical surgical single-patient rooms as well as 40 ICU beds, according to the Veterans Administration (Manning, Tampa Bay Business Journal, 2/1).
- Maryland: Johns Hopkins has received a $50 million gift from the United Arab Emirates to launch the Sheikh Khalifa Stroke Institute in Baltimore, a new institute for stroke research and clinical care. The institute is named after the president of the UAE, Sheikh Khalifa bin Zayed Al Nahyan, and will also have a location in Abu Dhabi (Eichensehr, Baltimore Business Journal, 2/1).
- Tennessee: Wellmont Health System and Mountain States Health Alliance have received final approval from the Tennessee Department of Health to complete their merger, which was announced in April 2016. The merged company will be called Ballad Health (Rege, Becker's Hospital Review, 2/1).
There's more than just M&A. Get the cheat sheet for hospital partnership and affiliation models.
Behind the flurry of M&A in recent years, a deeper trend of hospital integration is underway: the emergence of alternative partnerships that secure many of the same benefits of M&A without the financial and legal commitment: Clinical affiliation, regional collaborative, accountable care organization, and clinically integrated network.
This guide defines these types of partnerships and offers benefits, drawbacks, and examples of organizations in each.