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Welcome back to Signed and Scrubbed, a monthly roundup of hospital deals and bankruptcies.
This month, in addition to acquisitions and closures, there were notable layoffs around the industry. Penn Medicine in Philadelphia, for example, cut 300 positions, and Mass General Brigham laid off 1,500 staffers. Soon after, 50 residents and fellows at the Somerville, Massachusetts-based health system held a protest in favor of CEO salary caps.
We’ve compiled additional hospital news of note from March 2025. Here’s the deal (pun intended!).
AdventHealth. On March 1, for-profit Community Health Systems based in Franklin, Tennessee, completed the sale of ShorePoint Health Port Charlotte (254 beds) and “certain assets” of ShorePoint Health Punta Gorda (208 beds), in Florida, to AdventHealth, which is based in Altamonte Springs, Florida. The deal was worth $260 million.
East Ohio Regional Hospital. The Martins Ferry, Ohio, for-profit 140-bed hospital closed down on March 27 after reported ongoing financial issues and resignations. The hospital is not accepting new patients and is looking for a buyer.
Landmark Holdings of Florida. The Florida-based operator of six long-term acute care facilities across three states filed for Chapter 11 bankruptcy on March 9 after citing ongoing financial problems due to low reimbursement rates for Medicare amid rising labor costs and inflation. Landmark was once a private equity-backed entity with a $12 million investment from Praesidian Capital.
NYU Langone. The New York City nonprofit 2,073-bed health system acquired its seventh hospital on March 3: Long Island Community Hospital based in Patchogue. The hospital will now be called NYU Langone Hospital–Suffolk. The deal cost was not disclosed.
Prime Healthcare. On March 1, Ontario, California-based for-profit Prime Healthcare, which is now made up of 51 hospitals, completed an acquisition of eight Ascension hospitals and four senior and post-acute care facilities in Illinois. As the new owner, the health system committed to invest $250 million in “facility upgrades, capital improvements, substantial technology investments, and system upgrades,” according to a press release. The deal was reportedly worth $375 million.
University of Utah. The university announced on March 18 a $75 million donation from the George S. and Dolores Doré Eccles Foundation, a Salt Lake City-based family charity, to create a new 800,000-square-foot hospital and medical campus in the nearby West Valley City. The hospital is expected to have 90 beds and offer cardiology, orthopedics, women’s health, pediatrics, general internal medicine, and urgent care services.