Atrium Health is offering to buy a local hospital for $3 billion. Photo: Atrium Health

Hospitals that have pocketed tens of millions of dollars in federal coronavirus bailouts are still pursuing big-ticket mergers and acquisitions.

Why it matters: The pandemic has dried up big parts of hospitals' businesses, and that's why Congress established a $175 billion bailout fund to help them. At the same time, they're spending millions on lawyers and advisers to explore deals that expand their business empires.

Where it stands:

  • Advocate Aurora Health and Beaumont Health are in discussions to merge into a giant hospital system spanning three Midwest states. Beaumont has received more than $550 million so far in coronavirus bailout funds, and Advocate Aurora has received $328 million.
  • Atrium Health, Duke Health and Novant Health are in a multibillion-dollar bidding war to acquire New Hanover Regional Medical Center in Wilmington, N.C. Atrium has pocketed $149 million, Novant has received more than $80 million and Duke has gotten almost $50 million in bailout funds.
  • ProMedica is offering to take over the operations of the University of Toledo Medical Center. ProMedica has received $158 million in coronavirus bailouts.
  • Lifespan and Care New England in Rhode Island have rekindled merger talks. The two systems have combined for more than $64 million in coronavirus funds.

Between the lines: The New Hanover situation, in particular, shows that the pandemic isn't slowing down market expansion, especially if the prize is big enough.

The bottom line: The effects on competition and patients' wallets will live on after the pandemic ends.

Go deeper: The coronavirus could force more doctors to sell to hospitals — or shutter

Go deeper

Atrium Health CEO says "virtual hospital" has treated 13,000 COVID patients

Axios' Caitlin Owens and Eugene Woods, president and CEO of Atrium Health.

Atrium Health President and CEO Eugene Woods said at an Axios virtual event Tuesday that the company's "virtual hospital" system helped treat 13,000 coronavirus patients from their homes.

Why it matters: Woods believes that the telemedicine approach could outlive the pandemic and be a core part of "how we deliver care differently in the future."

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 20,755,406 — Total deaths: 752,225— Total recoveries: 12,917,934Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 5,246,760 — Total deaths: 167,052 — Total recoveries: 1,774,648 — Total tests: 64,831,306Map.
  3. Politics: House Democrats to investigate scientist leading "Operation Warp Speed" vaccine projectMcConnell announces Senate will not hold votes until Sept. 8 unless stimulus deal is reached.
  4. 2020: Biden calls for 3-month national mask mandateBiden and Harris to receive coronavirus briefings 4 times a week.
  5. States: Georgia Gov. Brian Kemp to drop lawsuit over Atlanta's mask mandate.
  6. Business: Why the CARES Act makes 2020 the best year for companies to lose money.
  7. Public health: Fauci's guidance on pre-vaccine coronavirus treatments Cases are falling, but don't get too comfortable.

Trump says he intends to give RNC speech on White House lawn

President Trump speaking to reporters on South Lawn in July. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump told the New York Post on Thursday that he plans to deliver his Republican National Convention speech from the White House lawn, despite bipartisan criticism of the optics and legality of the location.

Why it matters: Previous presidents avoided blurring staged campaign-style events — like party conventions — with official business of governing on the White House premises, per Politico.