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Centura Health To Acquire Utah Care Sites From Steward Health Care

Feb 15, 2023•over 2 years ago

Acquiring Company

Centura Health

Acquired Company

Steward Health Care Network

WestwoodNon ProfitHealth CareMedicalHealth Care

Description

Centura Health, one of its two joint operating sponsors, CommonSpirit Health, and Steward Health Care announced today that they have signed an asset purchase agreement (APA) for CommonSpirit Health to acquire Steward’s Utah care sites, which include five hospitals, more than 35 medical group clinics, and a clinically integrated network of care providers. Centura Health will manage the assets. The five hospitals and their affiliated clinics included in the agreement are Davis Hospital and Medical Center in Layton, Jordan Valley Medical Center in West Jordan, Jordan Valley Medical Center-West Valley Campus, Mountain Point Medical Center in Lehi and Salt Lake Regional Medical Center in Salt Lake City.

Company Information

Company

Centura Health

About

Centura Health connects individuals, families and neighborhoods across Colorado and western Kansas with more than 6,000 physicians and 21,000 of the best hearts and minds in health care. As a joint operating agreement between its two Sponsors: CommonSpirit Health, a Catholic ministry, and AdventHealth, a ministry of the Seventh-day Adventist Church, Centura manages and operates 20 hospitals, neighborhood health centers, physician practices and clinics, home care and hospice services, and Flight For Life® Colorado. Through its Vision of every community, every neighborhood and every life – whole and healthy, its caregivers amplify whole person care and make the region’s best health care accessible. For information on Centura Health or any of the facilities in our network, please visit the Centura Health website.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed