August's top stories: CVS-Omnicare $12.9bn deal, Capital One buys GE’s HFS US unit
CVS Health has acquired Omnicare for $12.9bn, Capital One is set to buy GE’s Healthcare Financial Services (HFS) US lending business for $9bn and TeamHealth Holdings agreed to acquire national acute hospitalist and post-acute provider IPC Healthcare. Hospitalmanagement.net wraps up key headlines from August.
US-based CVS Health completed the acquisition of Omnicare for $12.9bn, which provides pharmacy services to long-term care facilities.
The deal was first announced by both firms in May this year. As part of the deal, CVS Health paid $98 per Omnicare share in cash, which includes $2.3bn in debt.
Based in Cincinnati, Ohio, Omnicare offers comprehensive pharmaceutical services to patients and providers across the US.
The acquired business is expected to enhance CVS Health's ability to dispense prescriptions in assisted living and long-term care facilities, providing services to a senior patient population.
US-based Capital One Financial signed an agreement with General Electric Capital (GE Capital) to purchase its healthcare related loans and Healthcare Financial Services (HFS) US lending business for $9bn.
GE Capital, Healthcare Financial Services offers financing solutions to healthcare companies, sponsors, investors and developers in the US.
The company provides solutions across different healthcare sectors, comprising senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices.
US-based TeamHealth Holdings signed an agreement to acquire national acute hospitalist and post-acute provider IPC Healthcare, for an enterprise value of $1.6bn.
Under the deal, IPC Healthcare will receive $80.25 per share from TeamHealth.
TeamHealth president Mike Snow said: "Through this combination, TeamHealth will be better positioned to capitalise on key trends as the US healthcare industry moves toward value-based reimbursement with an increased focus on post-acute care and services."
US-based DaVita HealthCare Partners signed an agreement to acquire Colorado-based Renal Ventures for $415m.
Renal Ventures runs 36 dialysis clinics in six US states.
The firm's divisions, including Multispecialty Physician Partners and Physician Venture Partners, operate infusion and vascular centres in three states.
DaVita Kidney Care CEO Javier Rodriguez said: "We are excited to work with Renal Ventures' patients, employees and physicians.
"Our commitment is, and will always be about enhancing the quality of life for our patients."
Australia's Victorian Government unveiled plans to build a new Joan Kirner Women's and Children's Hospital in Sunshine that will involve an investment of $200m.
The new hospital is being named after the late premier Joan Kirner AC, who was the first female premier of Victoria.
Premier of Victoria Daniel Andrews said: "The Joan Kirner Women's and Children's Hospital will deliver vital services to families in Melbourne's west, a community Joan truly loved."
US-based Arkansas Children's Hospital (ACH) unveiled plans to develop a new hospital campus in Springdale, which will involve an investment of $184m during the next five years.
The new facility will be constructed on 37 acres of land that was contributed by David and Cathy (George) Evans, Gary and Robin George and their families.
Arkansas Children's Hospital senior vice-president Dr Robert Steele said: "Today, this project represents an estimated investment of $184m over the next five years.
"The ultimate scope and success of the project will depend greatly on generous individuals, corporations and foundations supporting the construction effort."
Canada's Ontario provided a $125m fund to upgrade critical infrastructure in hospitals across the province, as part of efforts to offer better services for patients in a safe environment.
Announced by Ontario premier Kathleen Wynne, Toronto East General Hospital is set to secure $1.7m for the 2015-16 period through the Health Infrastructure Renewal Fund (HIRF).
Wynne said: "Hospitals need to keep their facilities in a state of good repair so they can continue to provide high-quality healthcare.
"That is why our government has more than doubled the funding for crucial infrastructure repairs and upgrades at hospitals across Ontario."
France-based University Hospital La Timone installed Elekta's new Leksell Gamma Knife Icon system, which is used to treat metastasis in the brain.
Gamma Knife Icon offers an integrated cone-beam CT (CBCT) workflow, which allows doctors to check the patient's position against planning images.
An initial CBCT will be carried out to obtain a reference image, after a thermoplastic mask is custom-fitted to the patient's head. It is then combined with an MRI image to enable the clinician to develop the plan.
During treatment, patient motion will be seen through a high-definition motion management system, which monitors the patient's head position through infrared tracking of markers.