ABSTRACT
The development and expansion of systems in the U.S. healthcare and life sciences industry has occurred on a relatively unrelenting basis in the past 30 years. In the period of 2010–2021 alone, there were 2,733 ownership change transactions in the healthcare industry (Singh, 2022), involving a staggering $2.4 trillion in assets (Mikulic, 2023). In recent years, the number of transactions has trended slightly downward, while the value per transaction has increased, suggesting that mergers and acquisitions (M&A) of hospital-based systems, as opposed to takeovers of individual hospitals, are occurring more frequently.
