SKOKIE, Ill. – January 11, 2018 – Quincy, Illinois-based Blessing Health System (Blessing) announced the acquisition of the Hannibal Clinic this week. The partnership will broaden Blessing’s physician network, and enhance clinical programs and services to residents in the region.
Kaufman Hall served as the exclusive advisor to Blessing on the transaction.
Blessing is an integrated health system consisting of two hospitals, a nationally recognized physician group, an accredited college of nursing and health sciences, and a network of medical specialty businesses.
Hannibal Clinic, a multi-specialty physician group in Hannibal, Missouri, includes approximately 40 physicians across seven facilities and is majority owner of an ambulatory surgery center (ASC).
Blessing and Hannibal Clinic have had an informal relationship since 2009. . The new combined entity will offer a network of more than 150 high-quality physicians and strengthen Blessing’s ability to meet the healthcare needs of the region.
As noted in a recent Kaufman Hall Industry Flash Report, partnership activity in the physician group sector increased 33 percent last year as these groups look to align themselves with larger entities to strengthen their ability to meet the demands of the evolving industry.
As Blessing’s advisor on the transaction, Kaufman Hall provided strategic and financial services, including assisting negotiation of partnership documentation, conducting a facility assessment of the ASC, and completing a valuation of the Clinic. Kaufman Hall also assisted the health system with securing additional capital to finance the acquisition and developing a five-year financial plan to help guide the organization moving forward.
To learn more about this transaction or how Kaufman Hall is assisting healthcare organizations with strategic partnerships, contact Patrick Allen or Andy Majka at 847.441.8780.
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