FirstHealth of the Carolinas, Inc. acquired Sandhills Regional Medical Center Corporation
Ponder & Co. (“Ponder”) is pleased to announce that FirstHealth of the Carolina, Inc. (“FirstHealth”) has acquired Sandhills Regional Medical Center (“SHRMC”) and its affiliates from Quorum Health Corporation (“QHC”). This transaction preserves and improves local access to high quality affordable healthcare services for the residents of Hamlet, North Carolina and surrounding
FirstHealth of the Carolinas, Inc.
Headquartered in Pinehurst, North Carolina, FirstHealth is a private, not-for-profit healthcare network serving 15 counties in the mid-Carolinas. In addition to SHRMC, FirstHealth includes four hospitals with 534 licensed beds, a primary and specialty-care subsidiary, an insurance plan, a captive-insurance company, a foundation, an emergency medical services division, health and fitness centers, home care and hospice services, and dental centers. FirstHealth’s net revenue was $650 million in fiscal year 2015.
Sandhills Regional Medical Center
Sandhills Regional Medical Center in Hamlet is a 64- bed acute care hospital that provides 24-hour emergency services, intensive care, telemetry, and inpatient and outpatient medical and surgical services. It has provided Richmond County with uninterrupted health care since 1915. SHRMC’s net revenue was $29.4 million in fiscal year 2015.
Quorum Health Corporation
QHC is an operator and manager of general acute care hospitals and outpatient services in the United States. Through its affiliates, the Company owns or leases a diversified portfolio of 37 affiliated hospitals with an aggregate of over 3,500 licensed beds. QHC also operates Quorum Health Resources, LLC, a leading hospital management advisory and consulting services business. QHC began trading on the NYSE under ticker symbol “QHC” on May 2, 2016, after completing its spin-off from Community Health Systems, Inc. (NYSE: CYH).
Ponder’s M&A Group served as FirstHealth’s exclusive strategic advisor in the acquisition and supported negotiation of the terms and conditions of the asset purchase agreement.
Ponder & Co.
Ponder & Co. provides M&A and Capital Advisory services to more than 150 non-profit hospital and healthcare system clients. Ponder has completed more than 100 M&A engagements involving acute and specialty hospitals, senior health and housing facilities, long-term acute care facilities, ambulatory surgery centers and behavioral health facilities. Transactions have ranged from $10 million to $1.5 billion in value.
Ponder’s M&A services include:
- Strategic option assessments
- Partnerships and joint ventures
- Mergers, acquisitions and divestitures
- Business valuations and fairness opinions
- Board and special committee assignments
- Real estate transaction services