Hammond Hanlon Camp LLC Advises Cedars-Sinai Medical Center on the Acquisition of Marina Del Rey Hospital and a Majority Interest in Del Rey Surgery Center
posted on November 12, 2015
 

SAN DIEGO — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive advisor to Cedars-Sinai Medical Center (“Cedars-Sinai”) in connection with the acquisition of Marina Del Rey Hospital (“MDRH”) and its adjacent medical office building, effective September 1, 2015.  Separately, Cedars-Sinai acquired a majority interest in Del Rey Surgery Center (the “Surgery Center”).

 

Marina Del Rey Hospital, a 145-bed community hospital serving the Westside of Los Angeles, provides a broad range of general acute care services as well as spine and orthopedic specialty services.  Prior to the acquisition, MDRH and the Surgery Center were owned by a group of private investors and physicians led by Westridge Capital, a Los Angeles based private investment firm.  "Cedars-Sinai looks forward to working closely with Marina Del Rey Hospital's medical staff, management team and employees to understand the needs and opportunities for enhanced service to the community," said Thomas Priselac, President and Chief Executive Officer of Cedars-Sinai.

 

Cedars-Sinai engaged H2C in early 2015 to assist in the evaluation and purchase of MDRH.  As strategic and financial advisor to Cedars-Sinai, H2C provided financial analysis, coordinated transaction planning and execution, and played a key role in developing the strategy which led to a successful result.  “H2C was instrumental in assessing this strategic opportunity for Cedars-Sinai.  Their industry knowledge and transactional expertise were crucial to navigating a complex transaction process and completing the transaction on time,” said Rick Jacobs, SVP and Chief Strategy Officer for Cedars-Sinai.  

 

“As the healthcare landscape continues to evolve, sophisticated health systems like Cedars-Sinai are constantly evaluating market opportunities.  We are pleased that we could be a part of this next step in Cedars-Sinai’s growth,” said Michael Hammond, Principal at H2C.  
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ABOUT CEDARS-SINAI MEDICAL CENTER

Since its beginning in 1902, Cedars-Sinai has evolved to meet the healthcare needs of one of the most diverse regions in the nation, continually setting new standards in quality and innovation in patient care, research, teaching and community service.  Today, Cedars-Sinai is widely known for its national leadership in transforming healthcare for the benefit of patients. 

 

Cedars-Sinai is one of the largest nonprofit academic medical centers in the U.S. with 886 licensed beds, 2,100 physicians, 2,800 nurses and thousands of other healthcare professionals and staff. Clinical programs range from primary care for preventing, diagnosing and treating common conditions to specialized treatments for rare, complex and advanced illnesses. In addition, Cedars-Sinai serves the community through its Medical Network, which includes the highly rated Cedars-Sinai Medical Group and Cedars-Sinai Health Associates.

 

Cedars-Sinai has consistently been named one of America’s Best Hospitals by U.S. News & World Report, has received the National Research Corporation’s Consumer Choice Award 18 years in a row for providing the highest quality medical care in Los Angeles, and has the longest running Magnet designation for nursing excellence in California.

 

Cedars-Sinai is a leader in the clinical care and research of heart disease, cancer and brain disorders, among other areas. Pioneering research achievements include using cardiac stem cells to repair damaged hearts, developing minimally invasive surgical techniques and discovering new types of drugs to target cancer more precisely.

 

Cedars-Sinai also impacts the future of healthcare through education programs that encompass everything from highly competitive medical residency and fellowship programs to a biomedical science and translational medicine PhD program, advanced training for nurses and educational opportunities for allied health professionals. Most notably, Cedars-Sinai demonstrates a longstanding commitment to strengthening the Los Angeles community through wide-ranging programs that improve the health of its most vulnerable residents.

 
ABOUT HAMMOND HANLON CAMP LLC

Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers & acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value. Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, go to h2c.com.

 

MEDIA CONTACT

Dara Litwin
Hammond Hanlon Camp LLC
212.257.4527
dlitwin@h2c.com

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"H2C was instrumental in assessing this strategic opportunity for Cedars-Sinai.  Their industry knowledge and transactional expertise were crucial to navigating a complex transaction process and completing the transaction on time.” 

     - Rick Jacobs
       SVP and Chief Strategy
       Officer, Cedars-Sinai

                   

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