5 Massive Hospital Mergers & Acquisitions to Know About in 2024

Healthcare consolidation continues to accelerate, impacting ASCs across markets, resulting in changes in competitive dynamics, reimbursement rates and partnership opportunities.

Here are five huge hospital deals or mergers in 2024:

1. Dallas-based Tenet Healthcare, the parent company of United Surgical Partners International, agreed to sell its majority stake in Birmingham, Ala.-based Brookwood Baptist Health for $910 million in cash. The sale includes five Alabama hospitals and was one of several hospital sell-offs by Tenet this year as the system focuses on ASCs.

2. This year, St. Louis-based Ascension sold Our Lady of Lourdes Memorial Hospital System in Binghamton, New York, 50% of its interest in Network Health in Wisconsin and all assets and operations of Providence Hospital in Mobile, Alabama.

3. Novant Health on February 1 completed the acquisition of three hospitals and related physician clinics from Tenet for $2.4 billion. Novant acquired Mount Pleasant, SC-based East Cooper Medical Center, Hilton Head (SC) Hospital and Hardeeville, SC-based Coastal Carolina Hospital.

4. On May 15, Philadelphia-based Jefferson and Allentown, Pennsylvania-based Lehigh Valley Health Network signed a definitive agreement to combine 30 hospitals with more than 700 health care facilities into a system.

5. BJC HealthCare St. Louis merged with Saint Luke’s Health System earlier this year, creating a 28-hospital system with $10 billion in revenue that serves more than 6 million patients in Missouri, Illinois and Kansas.