Anatomy of a Deal Series No. 5:
After the Deal Is Over: What Hospital Integration Looks Like

by Daniel M. Grauman, Managing Director & CEO

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The devil is in the details. A year after the merger of Independent Hospital (IHX) and Regional Health System (RHS), the work of integrating these facilities is still underway. Some aspects of integration, such as reviewing group purchasing contracts, food services agreements, opportunities to consolidate back-office functions and more, have been relatively easy to complete. […]

Anatomy of a Deal Series No. 4:
Navigating the Due Diligence Process

by Daniel M. Grauman, Managing Director & CEO

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Once the matchmaking aspect of a healthcare M&A is complete and the parties involved agree on what partnership might look like, the next step is due diligence. Performing due diligence can seem like a “check the boxes” exercise—but it’s much more than that. It’s an opportunity to explore the strategic implications of a proposed merger […]

Anatomy of a Deal Series No. 3:
The Art of Negotiating a Deal in Healthcare M&A

by Daniel M. Grauman, Managing Director & CEO
and Scott Stuecher, Manager

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So you’ve made it through the request for proposals (RFP) process, an ordeal that can amount to a great deal of (usually digital) paperwork and a series of check-the-box demands, with little, if any, one-to-one discussion with the issuer. Now comes the interesting part: discussions between the healthcare organization that is seeking a partner, and […]

Hospital M&A: 3 Key Considerations to Reach a Fair Deal

by Daniel M. Grauman, Managing Director & CEO
and Kevin Cope, Manager

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Board members of not-for-profit community hospitals face enormous pressure to protect their community’s access to care. Even when the economic reasons for hospital mergers and acquisitions (M&A) are compelling, the decision to cede control to another system cannot be made based on purchase price alone. It’s just one reason why not-for-profit board members must understand […]

Anatomy of a Deal Series No. 2:
Thinking Strategically About the RFP Response

by Daniel M. Grauman, Managing Director & CEO
and Scott Stuecher, Manager

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The search for a partner typically begins with a request for proposals (RFP). It’s a process designed to solicit interest from other organizations and narrow the field to two to three candidates that could prove to be a good fit. For health systems that respond to an RFP from an independent hospital, the goal is […]

Are You Developing Financial Projections?

by Daniel M. Grauman,, Managing Director & CEO
and Jessica Stack, Senior Manager

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Are you developing financial projections for business planning or an upcoming valuation?  During COVID-19, each organization was uniquely impacted by management decisions, state and local policy, and specialty-specific challenges or opportunities, etc. Normalizing financials moving forward should proceed with these considerations. Click here to view how various factors impact these projections.

Anatomy of a Deal Series No. 1:
Anatomy of a Deal: Why 2021 Could Present Interesting Opportunities for Acquisitions

by Daniel M. Grauman, Managing Director & CEO
Scott Stuecher, Manager

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The road through COVID-19 likely will be uneven for not-for-profit systems, with factors such as geography, cash position, unemployment and soft demand for services all playing a role. But for some systems, year two of the pandemic could also prove to be the right time for growth. In our “Anatomy of a Deal” series, we’ll […]

Hospital M&A Series Part 6: Hospital M&A: Is This a Fair Deal? What to Consider

by Daniel Grauman, Managing Director & CEO
and Kevin Cope, Manager

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Board members of not-for-profit community hospitals face enormous pressure to protect their community’s access to care. Even when the economic reasons for hospital mergers and acquisitions (M&A) are compelling, the decision to give up control to another system cannot be made based on purchase price alone. It’s just one reason why not-for-profit board members must […]

4 Due Diligence Considerations in the COVID Era

by Daniel M. Grauman, Managing Director & CEO
Robert F. Hill, Jr., Principal

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The health care industry continues to consolidate at a rapid pace.  Although the pandemic has delayed the implementation of some transactions and even compelled some organizations to cancel plans to merge or affiliate, others that would not likely have sought out affiliation options are now doing so. Under normal circumstances, key due diligence considerations pertaining […]

Hospital M&A Series Part 5: Hospital M&A During COVID-19: 3 Considerations in Determining the Right Affiliation Model

by Daniel M. Grauman, Managing Director & CEO

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Hospital mergers and acquisitions (M&A) slowed down during the pandemic, with M&A volume declining each quarter and sinking to a 10-year low as management teams focused on the immediate operational priorities of the pandemic. Now, as the initial shock of the pandemic wears off, leaders who were leaning toward partnership before the pandemic are left […]