Jefferson, Kennedy Merger Creates a Giant 13-Hospital Network

Joseph Devine (left) with Dr. Stephen Klasko announcing the merger between Jefferson and Kennedy Health.

Almost two years after announcing their intent to merge, Jefferson Health and Kennedy Health have sealed the deal, officially making Jefferson a sprawling 13-hospital network.

On Thursday, officials from both health systems joined at Kennedy to announce the completion of the merger in Washington Township, New Jersey where Kennedy is based. Thursday’s signing is the culmination of a process that formally began in January 2016 with a letter of intent followed by the signing of a definitive agreement in August 2016 that listed terms. Read more »

Why Ballard Spahr Will Merge Twice In Just Four Months

Ballard Spahr chair Mark Stewart. Courtesy photo.

In just one week, Ballard Spahr has announced two mergers that will expand the firm in terms of practice and sheer size.

Just Tuesday, the law firm announced that it’s taking in all 25 lawyers at the elite Levine Sullivan Koch & Schulz (LSKS), which has offices in cities like Philly and Washington D.C. The firm specializes in First Amendment cases and has represented media clients like the New York Times, the AP (in the Cosby trial), and NBCUniversal.

Last week, Ballard announced that it will join with Lindquist & Vennum, a Minneapolis-based firm known for its middle-market M&A and private equity deal making.

Once both mergers are completed, Ballard will have more than 675 lawyers in 15 offices across the country. This means that by the start of 2018, the firm will have effectively added 200 lawyers and expanded its capacity in media and entertainment law and its M&A and private equity group.

Do these consecutive mergers prove that law firms are facing more pressure to “get big or go home” (Saul Ewing recently announced a merger, too), or is the melding just business as usual? BizPhilly caught up with Ballard Spahr’s chair, Mark Stewart, to find out. Stewart also tells the hardest part about merging and what’s on the horizon for the Center City firm.  Read more »

Verizon Open to a Merger Talk With Comcast

Images via Flickr.

Images via Flickr.

“Comcast Verizon NBCUniversal” just might become a thing at some point in the future. Don’t believe me? Here’s what Verizon CEO Lowell McAdam told Bloomberg recently: “If Brian came knocking on the door, I’d have a discussion with him about it.”

McAdam is referring to Comcast CEO Brian L. Roberts.

A merger between Comcast and Verizon would drastically reformat the media and telecommunications world that’s already in flux. AT&T has moved to acquire Time Warner Inc. and Verizon has already swallowed up AOL and Yahoo’s internet assets. And Comcast’s acquisition of NBCUniversal happened only six years ago. Read more »

Skee-Ball Inc. Sold to Wisconsin Company

dial-a-view/iStockPhoto.com

dial-a-view/iStockPhoto.com

There’s perhaps nothing more iconic to the Jersey Shore than Skee-Ball. Rolling that odd, wooden ball down the lane is basically a rite of passage for kids and gives adults a chance to relive their youth. And let’s be honest, winning tickets can feel intoxicating.

But on Tuesday, the business of Skee-Ball just changed in a big way. Skee-Ball Inc., located in Bucks County, has just been purchased by Bay Tek Games, located in Pulaski, Wisconsin. The sale price was not disclosed. Read more »

Report: Comcast Interested in Buying Yahoo

Comcast-YahooWho’s going to buy Yahoo? A titan of the tech industry, Yahoo has worldwide brand recognition, a $26 billion stake in Chinese internet giant, Alibaba — but it’s struggled to satisfy shareholders in recent years.

Bloomberg, citing “people familiar with the process” is reporting that Yahoo is going to reach out to potential bidders as early as today — and said Comcast is one of several companies interested.

Bloomberg reports: “Companies such as Verizon Communications Inc., Comcast Corp. and AT&T Inc. are among interested parties, as well as buyout firms including Bain Capital Partners, KKR & Co. and TPG, the people said, asking not to be identified as the situation isn’t public.” Bloomberg said not to expect actual offers for at least a month. Read more »

Blank Rome Acquires D.C. Law Firm

Blank Rome

Blank Rome has acquired Dickstein Shapiro and the deal will bring more than 100 attorneys into the Philly-based law firm.

Blank Rome was founded in 1946 and represents businesses dealing with all types of matters — from commercial and corporate litigation to mergers and acquisitions. The deal gives Blank Rome more than 90 Dickstein Shapiro lawyers in Washington, D.C. — tripling the firm’s presence there. Blank Rome also adds 13 lawyers in New York.

The deal bolsters Blank Rome’s roster to more than 620 attorneys in 14 offices. Read more »

A Company in the Philly Burbs Just Sold for $400 Million

Robert Kneschke/Shutterstock

Robert Kneschke/Shutterstock

What’s the going rate for a group of outpatient physical rehabilitation centers? How about a cool $400 million?

Physiotherapy Associates Holdings, which is based in Exton, Pa., has agreed to be sold to Select Medical Holdings Corp. in a $400 million deal. The transaction is expected to close in the first or second quarter of 2016.

The deal comes amid a slew of mergers in the health care space and is yet another sign of consolidation. Read more »

Why Jefferson is in Merger Mania

Joseph Devine (left) with Dr. Stephen Klasko announcing the merger between Jefferson and Kennedy Health.

Joseph Devine (left) with Dr. Stephen Klasko announcing the merger between Jefferson and Kennedy Health on Friday.

Dr. Stephen Klasko knows that in today’s ever-changing health care landscape, bigger is better. Bigger means easier negotiations with insurance companies. Bigger means more capital to invest in new technology. Bigger means reducing costs through consolidation.

In case you missed it amid the pre-blizzard hysteria, Jefferson announced a merger with Kennedy Health on Friday — making one of the biggest health care systems in the region even bigger. The combined organization will generate nearly $4 billion in revenues each year. It’s Jefferson’s fourth merger in the past year after previously announced deals with Abington Health, Aria Health and Philadelphia University. Read more »

Jefferson, Kennedy Health to Merge

jefferson kennedy

Jefferson has announced yet another merger deal.

On Friday, Jefferson announced the signing of a letter of intent to merge with Kennedy Health, a South Jersey-based health system. Kennedy has three hospitals located in Stratford, Cherry Hill and Washington Township. The organization has 607 acute care beds, $540 million in revenue and more than 900 physicians. Read more »

One Philly-Area Tech Company Buys Another

anexinet-listenlogicTwo local tech companies are joining forces, as Philly-based Anexinet announced that it has acquired ListenLogic. Anexinet delivers digital and technology solutions to help clients determine business strategy. ListenLogic is a provider of big data analytics and social intelligence housed in Conshohocken, Pa. Terms of the deal were not disclosed.

ListenLogic analyzes social media posts, surveys, call-center notes and internal documents to help clients tailor their strategies and create business solutions. Basically, they take what everybody is saying on the web, both inside and outside of the company, and create predictive analytics and sense risks for the organizations they’re working with. Read more »

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