Hospital M&A Roundtable: Meeting in the Middle – The Convergence of Not-for-Profit and For-Profit Transaction Structures and Terms
Tuesday, January 17, 2012:
11:00 am - 12:30 pm Eastern US Time
An unprecedented wave of consolidation in the hospital industry is underway. Beginning with the economic crisis in late 2007, the once fervent demand for tax-exempt securities (and even tolerance for non-investment grade rated debt) evaporated. Federal and State budgets began to contract and government payor reimbursement levels for hospitals declined. The pursuit for scale and relevance intensified the nature and form of capital investments. A number of elements of the Patient Protection and Affordable Care Act are also driving consolidation activity.
As the number of transaction intensifies, a number of trends are becoming more prevalent. Existing stalwart capital providers, as well as newly formed entities are aggressively pursuing acquisitions. In many cases, new forms of affiliation and partnership are being utilized to combine the resources and balance the needs of the hospitals and systems. Additionally, not-for-profit health systems are also evaluating novel approaches to partnerships and ventures to expand their missions. Finally, the emergence of cross-vertical transactions between payors, providers and clinicians underscore that the current wave of consolidation is truly without precedent.
The landscape for hospital transactions is becoming more dynamic and is resulting in a convergence of once distinct and clearly differentiated transaction structures. In fact, the various form of consideration in recent noteworthy transactions includes economic resources, capital commitments and other restrictions or covenants, regardless of the profit orientation of the acquiring entity. These changes offer a unique opportunity for systems and hospitals to evaluate the fit of a partner by its ability to meet its objectives more than with regard to how it is capitalized.
Topics to be covered during this webinar:
- Key Drivers to Hospital M&A Activity
- Trajectory for Future Consolidation
- Perspectives of the Evolution of Transaction Structures
- Examples of Convergence of For-Profit/ Not-for-Profit and Cross-Vertical Deals
- Implications to Systems/ Hospital Contemplating Partnerships
Gary T. Frantzen, CFA
Senior Managing Director, AMERICAN APPRAISAL ASSOCIATES, INC.
Senior Vice President and Chief Development Officer
VANGUARD HEALTH SYSTEMS
Anu R. Singh
Senior Vice President, KAUFMAN HALL & ASSOCIATES
Partner, MCDERMOTT, WILL & EMERY
How It Works
Single Connection: $245.00
Additional Connection at the same Organization: $150.00
A site connection allows a single connection to the web conference. That connection is open to any number of users in a collaborative setting. Because there are no travel expenses and only a single registration fee is required, each additional participant lowers the cost per participant significantly.
By purchasing a site connection, you can invite as many people as you would like to view and participate in the session from a single location. Set up the session in a conference room and project the presentation and chat on a large screen. You also have rights to distribute copies of the presentation materials to everyone involved. Please note that audio is received via the phone line and must be broadcast to your group.
If for any reason a relevant stakeholder cannot co-locate for the session, we encourage you to include that person by purchasing an additional connection at the reduced fee of $150 per session. This will ensure that every member of a team receives the same relevant, timely information in the most efficient way. If you have any technical or purchasing questions, please contact us at (818) 888-4444.
CANCELLATION, REFUNDS & CREDITS
Should you be unable to attend, a refund, less a $50 administrative charge, will be made for cancellations received via letter or fax at least 3 working days before the event. We regret cancellations will not be accepted after that date. However, we will be pleased to transfer your registration to another member of your company or credit the registration fee to another Infocast conference if you register within 6 months from the date of this conference. In the event the conference is canceled, Infocast’s liability is limited to the refund of the conference registration fee only.