July 31, 2023
M&A | Tea Leaves
  • Virginia-based UVA Health announced on Tuesday a partnership with Riverside Health System, the latest move in the academic health system’s efforts to form a statewide network. UVA Health will acquire a 5 percent ownership stake in Riverside, which operates four acute-care hospitals and a behavioral health hospital, as well as a physical rehabilitation hospital and a critical illness recovery hospital in partnership with Select Medical. The affiliation will broaden UVA Health’s referral network to eastern Virginia, while Riverside will receive financial and clinical resources from UVA Health. Riverside will also grow its graduate medical education programs, particularly in internal medicine. (Articles here and here)