Shakeups & Breakups

The REIT is transitioning all the properties from management by Five Star Senior Living. Diversified Healthcare in August transitioned eight properties from Five Star.

Real estate investment trust Ventas, which owns a 34% stake in Eclipse, announced it plans to transition operations of its 90 Eclipse-managed communities in 20 states to eight to-be-named providers.

The Los Angeles-based PE firm carved out the business from Netherlands-based Wolters Kluwer in 2018 for $180 million in cash.

The system posts $1.4 billion in annual revenue and employs 8,800 people in central Illinois.

n addition, Tower Health is continuing to evaluate options to determine the future of Brandywine Hospital in Coatesville, PA.

The proposed sales agreement was reached in July, but had not yet been publicly announced. The deal recently came to light after attorneys for Scranton Quincy Hospital Co., doing business as Regional Hospital of Scranton and Moses Taylor Hospital, filed a motion seeking to halt the sale.

Leaders of Greenwood Leflore Hospital held closed-door hearings in the past week to brief local officials and its own employees about proposals for a financial turnaround.

Altaris Capital Partners agreed to sell BK Medical, a surgical visualization tech company with offices in Boston and Copenhagen, to General Electric for $1.45 billion in cash.

The firms hope to complete the deal by the end of the first quarter next year.

Prime Healthcare's New Jersey hospitals announced this week they would terminate their contracts with major insurer UnitedHealthcare, citing significant underpayment.