ECG’s Healthcare Mergers and Acquisitions (M&A) Update for Q3 of 2024! This edition includes a spotlight on hospital divestiture and ambulatory investment. 

Here are three key takeaways:

• There were 378 announced US transactions in Q3 2024, compared to 400 in the prior quarter.
  • Notable transactions include the following:

• In recent quarters, large national players have been reevaluating their portfolio of assets. Many major systems, such as Community Health Systems, Tenet Health, and Ascension, sold multiple hospitals during the quarter.
  • Systems divesting their hospital assets are shifting investment to ambulatory settings, a trend that is expected to continue.
• Announced US healthcare private equity deals decreased from 160 deals in Q2 to 145 deals in Q3 2024.
  • Q3 was marked by TowerBrook and CD&R’s $8.9 billion acquisition of R1 RCM, a leading provider of technology-driven solutions that transform the patient experience and healthcare providers’ financial performance. An investment vehicle controlled by TowerBrook was the beneficial owner of approximately 36% of the company’s outstanding shares of common stock. 

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_{Edited by: Matt Maslin}