Walgreens is reportedly in talks to sell itself to a private equity firm, but that wasn't the only deal making headlines.
Here's a look at the top healthcare deals this week.
Labcorp completes acquisition of Ballad Health lab assets
Labcorp closed its acquisition of select non-hospital lab assets from Ballad Health, the independent laboratory company said Wednesday. Johnston City, Tennessee-based Ballad Health will retain operations of its inpatient and emergency department laboratory services, as well as lab services for hospital-based practices.
Related: Why Labcorp, Quest Diagnostics are buying hospital labs
Community Health Systems to sell hospital
Community Health Systems signed a definitive agreement to sell a North Carolina hospital to Duke Health for about $280 million.
The deal involves the 123-bed Lake Norman Regional Medical Center in Mooresville, North Carolina, and related businesses. It is expected to close in the first quarter of 2025, subject to regulatory approval.
Walgreens in talks to sell company to private equity firm: WSJ
Walgreens is reportedly in talks to sell itself to private equity firm Sycamore Partners.
Walgreens and Sycamore have been discussing a deal that could close in early 2025, according to a Tuesday report from the Wall Street Journal, which cited people familiar with the matter. The deal would take Walgreens off the public market.
Priority Health acquires Indiana health plan
Grand Rapids, Michigan-headquartered Priority Health completed its acquisition of Fort Wayne, Indiana-based Physicians Health Plan of Northern Indiana. PHPNI serves more than 50,000 members in Indiana and Ohio, Priority Health said. About 150 staff members joined Priority as a result of the deal, and no layoffs occurred, a Priority spokesperson said. Financial details were not disclosed.
CareTrust REIT expands in the Midwest
CareTrust REIT acquired a 46-facility skilled nursing and senior housing portfolio in the Midwest for $97 million.
The San Clemente, California-based real estate investment trust said the facilities include more than 3,800 beds and were purchased through a bankruptcy sale of the assets from an unnamed debtor. It did not disclose the names or specific locations of the facilities.
Siemens buys PET scan radiopharmaceuticals maker from Novartis
Siemens Healthineers finalized its deal to purchase radiopharmaceutical company Advanced Accelerator Applications Molecular Imaging from Novartis, the company announced Tuesday.
The property, which Siemens renamed Advanced Accelerator Applications, manufactures and distributes diagnostic radiopharmaceuticals for positron emission tomography scans. The Siemens Healthineers-Novartis deal is worth $224 million, Reuters reported.
Sutter Health, Concert team on behavioral health
Sacramento, California-headquartered Sutter Health is collaborating with behavioral health company Concert Health to expand services. Under the agreement, patients who seek behavioral care from Sutter Health primary care providers in Lakeport, Crescent City, Palo Alto, and Dublin will be connected with Concert Health through phone or video. Revenue will be generated via fee-for-service reimbursement as well as alignment with value-based contracts, a spokesperson said. Concert has similar partnerships with other health systems including AdventHealth, CommonSpirit Heath and WellSpan Health.
Quote of the week
“There is no question that many of the private equity groups that own nursing home facilities are prioritizing profit above the health and safety of residents.”
— Sen. Bob Casey (D-Pa.), Aging Committee Chair
