Mergers & Acquisitions
Decision is forced by ongoing financial challenges with Saltzer "optimistic" a buyer can be found.
Investor confidence is spurred by an expectation of lower interest rates, while the presidential election looms as a question mark.
In addition to the acquisition, the company has named Jim Moffett as FastMed's new CEO, the company said.
The organizations said they would continue to collaborate with each other, but as two separate health systems.
Paragon provides infusion services to patients through an omnichannel model.
The purchase price for the transaction, net of certain tax benefits, is reduced from $510 million to approximately $425 million.
The combined systems would create a 30-hospital network with a reported $14 billion in revenue.
A merger between competitors that increases concentration and consolidates a market may substantially lessen competition, agencies say.
Cigna was to acquire Humana in a deal that would have come about by the end of the year, says WSJ.
The White House has specifically called out the acceleration of consolidation in healthcare markets, saying it too often leads to higher costs.