Hospital Mergers Gain Momentum As Trump’s ‘Beautiful Bill’ Cuts Loom

Hospital merger and acquisition activity ended 2025 with momentum expected to continue as drastic cuts to Medicaid spending under Trump’s One Big Beautiful Bill Act loom.

A Kaufman Hall analysis shows 46 hospital and health-system M&A announcements in 2025, down from 2024 but with momentum returning in Q3 and Q4. The activity is expected to accelerate in 2026 as federal Medicaid spending cuts under the One Big Beautiful Bill Act pressure providers financially; deals increasingly involve financially distressed parties (a record…