Cincinnati-based Catholic Healthcare Partners has acquired Jewish Hospital, which will become part of CHP affiliate Mercy Health Partners of southwest Ohio.
It is the latest purchase for CHP, one of the largest nonprofit health care systems in the country and the largest in Ohio. It runs more than 100 facilities — including 29 hospitals — across five states. CHP has about $1.85 billion of total debt. Ponder & Co. was financial adviser to Jewish Hospital during the transaction.
Jewish Hospital is located in Cincinnati’s northeast suburbs with 209 beds and 150 of service.
In 2007 the system purchased a financially struggling four-hospital system based in Tennessee. At the time, Moody’s Investors Service warned that the new acquisition was CHP’s greatest challenge.