Starboard Value has acquired a 5.90% stake in Healthcare Realty Trust, which is at a critical juncture following the departure of its long-time CEO. The company faces two potential paths: searching for a new CEO to enhance operational efficiency or considering a sale, with interest from strategic buyers like Welltower. Starboard's involvement could be pivotal in either scenario, leveraging its expertise in corporate governance and operational improvement.
Trinity Health Mid-Atlantic abandoned its plan to acquire Tower Health's Chestnut Hill Hospital in January 2022, part of a broader trend where over 29 hospital mergers, acquisitions, and partnerships were called off in recent years. Notable cancellations include Community Health Systems' $120 million sale of Commonwealth Health and Novant Health's $320 million acquisition of two hospitals, both facing regulatory hurdles. Other significant deals, such as the merger between Presbyterian Healthcare Services and UnityPoint Health, were also terminated after extensive negotiations.
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