Hospitals have long been bedeviled by shortages and price spikes for the generic drugs that are essential to their day-to-day operations.
Loyola Medicine plans to pay about $270 million to buy west suburban MacNeal Hospital from its giant for-profit owner Tenet Healthcare, which is exiting the Chicago-area market.
Trinity Health of New England announced Thursday that Dr. Reginald J. Eadie will become the system's new president and CEO on March 26.
The new health system-led generic-drug company sent a shockwave through the healthcare industry, but experts warned that it would take plenty of time and capital to ultimately lower drug prices and mitigate shortages.
As four not-for-profit health systems unveiled plans to create their own generic-drug company, experts say they'll face an uphill battle to make a significant dent in rising drug prices and shortages.
A new executive team has been named to lead a newly unified system composed of Trinity Health's two regional systems, said Rob Casalou, president and CEO, Mercy Health and St. Joseph Mercy Health System.
Cooper University Health Care has dropped plans to buy three Trinity Health hospitals in New Jersey, citing compliance, legal, regulatory and operational reasons. The two systems signed a letter of intent in August.
Not-for-profit hospitals are borrowing at near-record numbers before the end of the year ahead of a sweeping tax overhaul that threatens to end or curtail their ability to issue tax-exempt bonds.
Hospitals and health systems are looking to offset the continued widening gap between the cost of care and Medicare reimbursement, as well as other rising costs.
Trinity Health's first-quarter results were bolstered by a revenue increase and a focus on cost control
As part of its nationwide plan to integrate teams and resources, Trinity Health is combining St. Joseph Mercy Health System and Mercy Health into one statewide system in Michigan.
Trinity Health is considering issuing $600 million in debt to acquire, construct, renovate or outfit new and existing facilities and snap up a "new regional health ministry," according to a regulatory filing.