Dive Brief:
- Boston Children's Hospital announced on Friday that it had acquired Children's & Women's Physicians of Westchester (CWPW), a medical practice with locations in Connecticut, New York and New Jersey.
- This is Boston Children's first out-of-state acquisition and also its first acquisition of a medical practice.
- The goals of the acquisition are to expand community-based care and to draw more complex pediatric patients to the hospital.
Dive Insight:
In a press release, Kevin Churchwell, MD, Executive Vice President of Health Affairs and Chief Operating Officer at Boston Children's Hospital, said, "The quality of the clinical practices and CWPW's well-established leadership in pediatric care across the tri-state area is aligned with Boston Children's vision of working collaboratively to provide the best care possible for children and families. As part of this vision, we look forward to the continued CWPW collaboration with Westchester Medical Center and New York Medical College."
Churchwell's statement is consistent with what the experts are saying about the future of mergers and acquisitions. Kit Kamholz, Managing Director at Kaufman Hall, said we could "expect to see more transactions in which successful and financially-strong organizations combine with one another to create new entities designed to have the multiple capabilities required by the emerging value-based healthcare system."