St. Louis-based Ascension saw a $3 billion operating loss in fiscal year 2023, and its sustainability strategy includes selling off major hospitals in their system.
Additionally, last year, Ascension said it plans to invest more money into its ASCs, imaging and physical therapy sites that advance its footprint of service offerings and provide greater convenience to consumers.
Here are five hospital sell-off deals from Ascension in 2024:
1. On June 25, Birmingham, Ala.-based UAB Health greed to acquire the five-hospital Ascension St. Vincent's Health System.The $450 million deal still needs approval from federal regulators and is expected to close this fall.
2. In March, Ascension Michigan, which includes 16 hospitals, announced plans to sell three campuses and an ASC to Midland-based MyMichigan Health this summer.
3. This year, Ascension hopes to ink a joint-venture partnership with Detroit-based Henry Ford Health in the third quarter, pending regulatory approvals. The deal would fold Ascension Michigan's sites of care in the southeastern region of the state under its brand.
4. In February St. Louis-based Mercy announced plans to acquire Ascension Via Christi Hospital in Pittsburg, Kan. The proposed transaction includes the hospital, its locations and related physician practices.
5. Also in February, Ascension sold Our Lady of Lourdes Memorial Hospital System in Binghamton, N.Y., to Sayre, Pa.-based the Guthrie Clinic, now a six-hospital system.