Hospital merger-and-acquisition transactions were down slightly in the first quarter of 1995, but overall activity in the industry increased, according to Irving Levin Associates.
The New Canaan, Conn.-based investment firm's Health Care Merger & Acquisition Report documented 25 hospital transactions in the first quarter, down from 27 in the fourth quarter of 1994.
The number of all healthcare mergers and acquisitions announced in the first quarter was 138, compared with 115 in the previous quarter, Levin reported.
"The hospital sector set the lead in the last quarter of 1994 with Columbia/HCA (Healthcare Corp.)'s merger with Healthtrust, and the rest of the industry is following," said Stephen Monroe, a partner with Irving Levin.
The tally for other industry care segments: rehabilitation facilities, 21; home healthcare, 15; physician groups, 13; long-term care, 12; HMOs, 11; laboratories/MRI/dialysis, 11; psychiatric facilities, nine; and other medical businesses, 21.
Individual hospital deals for which purchase prices were available were:
Cape Coral (Fla.) Hospital will be acquired by Health Management Associates, Naples, Fla., for about $160 million.
Goodlark Regional Medical Center, Dickson, Tenn., and Cheatham Medical Center, Ashland City, Tenn., by Nashville, Tenn.-based Columbia, for $103 million.
Hamilton County Memorial Hospital, Jasper, Fla., by Columbia for $2 million.
JFK Medical Center, Atlantis, Fla., by Columbia for $210 million.
Mercy Health Services, Charlotte, N.C., by Charlotte-Mecklenburg Hospital Authority for $115 million.
Salt Lake City Regional Medical Center by Champion Healthcare Corp., Houston, for $56.4 million.
St. Joseph Memorial Hospital, Murphysboro, Ill., by Southern Illinois Health Services for $5.5 million.
Chesterfield General Hospital, Cheraw, S.C., and Marlboro Park Hospital, Bennettsville, S.C., by Dynamic Health, Tampa, Fla., for $22 million.
Westwood Pembroke Health System, Canton, Mass., by Charter Medical Corp., Atlanta, for $13.8 million.