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HCA Healthcare and University Health didn t see a way to meaningfully expand their market share in the competitive Atlanta market, leading to a string of recent hospital deals that are poised to benefit Piedmont Healthcare, merger and acquisition experts said.
Piedmont will add seven hospitals to its current 11-hospital footprint via back-to-back transactions, courtesy of HCA and University Health. HCA sold its last Atlanta-area hospital to AdventHealth Thursday.
The profitable Atlanta-area hospitals will increase the not-for-profit health system s negotiating power with Blue Cross Blue Shield of Georgia, allow it to grow its service lines and spread its fixed costs over a wider asset base, M&A experts said. Meanwhile, HCA and University Health can exit or partner in markets they were unlikely to lead on their own while receiving a return on their investment, they said.
May 13, 2021 GMT
AUGUSTA, Ga. (AP) Days after announcing a plan to buy four other hospitals for $950 million, Atlanta-based Piedmont Healthcare has signed an agreement to take over Augusta’s University Hospital system, pushing deeper into a statewide expansion.
Directors of the three-hospital University system announced Wednesday that they have approved a nonbinding letter of intent. Jim Davis, CEO of the nonprofit University system, says the merger could be completed late this year or early next year. Davis tells WJBF-TV that University is likely to change its name to Piedmont-Augusta.
Hospitals have been merging to seek greater market power in bargaining for reimbursement rates with insurers. University began seeking a partner in 2019, saying remaining independent would have been difficult with payment rates declining and costs rising. Piedmont also offers access to technology and data systems University can’t afford.
Georgia nurse comes out of retirement to help during pandemic
By FOX 5 Digital Team
Published
The Cobb County grandmother felt compelled to give back to her community in its time of need.
COBB COUNTY, Ga. - Imagine being retired from your job and reentering the workforce during the COVID-19 pandemic.
That is exactly what one Cobb County nurse and mother decided to do after feeling compelled to give back to her community in a time of need.
Mitzi Walters always wanted to be a nurse. The mother of two and grandmother of six actually graduated from high school early to get a jump on nursing school.
One of Georgia’s largest hospital systems is seeking to get bigger, buying two hospitals in Macon, one in Cartersville and one in Snellville for $950 million.