Eight hospital deals were announced but only one came with a price tag. As MedCath (NASDAQ: MDTH) continues to wind down, it sold Louisiana Medical Center and Heart Hospital, a 137-bed acute care facility in Lacombe, to Nashville-based Cardiovascular Care Group (CCG). CCG is paying just shy of $23.0 million, and the price to revenue multiple is 0.46x. MDTH financed CCG’s purchase with a seller note that matures 60 days after closing, subject to an extension at CCG’s election for up to 60 additional days to provide the buyer an opportunity to obtain permanent financing.
Catholic Healthcare West (CHW) is selling St. Mary’s Regional Medical Center, a 269-bed acute care facility in Reno, Nevada, to Community Health Systems (NYSE: CYH) for an as-yet undisclosed price. CHW acquired St. Mary’s from another Catholic provider in 2007 hopimg to shore up its business; however, the collapse of the banking and home mortgage markets in Nevada in 2008, as well as unemployment, reduced the insurance rolls, putting pressure on hospital revenue.
Swedish Health System, which operates three hospitals in the Seattle, Washington market, announced plans to join forces with Providence Health & Services, a Catholic  organization that operates 27 hospitals in five Western states. While Swedish would retain its name and secular status, its operations in King, Snohomish and Kittitas counties are to be combined with Providence’s facilities in King, Snohomish, Thurston and Lewis counties to create a local system with assets of $3.4 billion.
Duke LifePoint Healthcare, LLC, a joint venture between an academic medical system and LifePoint Hospital (NASDAQ: LPNT), has been very busy this month. It closed on its third deal this year, the acquisition of Maria Parham Medical Center in Henderson, North Carolina, and it announced its first acquisition in Virginia. The JV proposes to buy an 80% interest in 86-bed Twin City Regional Hospital in Galax, Virginia. While no price has been given, the proceeds would be sufficient to retire Twin City’s debt, currently estimated at about $11.0 million, and to start a charitable foundation…Want to read more? Click here for a free trial to The Health Care M&A Monthly and download the current issue today