Hospital merger-and-acquisition activity continued its decline in 2002, with only 58 announced deals involving 101 hospitals, according to healthcare research and publishing firm Irving Levin Associates. The value of the deals with disclosed prices was $3.5 billion in 2002, compared to $3 billion in 2001 when 83 deals were struck involving 118 hospitals. The $1 billion sale of Health Midwest, Kansas City, Mo., to Nashville-based HCA accounted for more than 30% of the value of transactions in 2002, the report said. In January, Modern Healthcare's ninth annual mergers-and-acquisitions report showed that deals had slowed considerably in 2002. A total of 163 hospitals were involved in mergers or acquisitions in 2002, down nearly 40% from 2001 when 267 hospitals were involved in deals, according to the survey. -- by Patrick Reilly
M&A report confirms volume fell in '02
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