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Health care mergers and acquisitions slowed a bit over the summer, but the industry still has kept bankers and consultants busy since the Affordable Care Act went into effect. The health care industry has initiated more than 200 deals per quarter for 12 straight quarters, including 211 in the third quarter of 2017, according to a report from PwC.

Expand chart
Reproduced from PwC Q3 2017 health services deals report; Data: healthcareMandA.com

The value of all the health care transactions in the third quarter was about $17.4 billion, led by the $3.75 billion deal between health insurers Centene and Fidelis Care. That total was down from almost $50 billion in the second quarter, an anomaly that had a slew of large-scale buyouts such as the $9 billion minority stake selloff of drug research firm PPD.

  • A third of the health care deals in the third quarter involved long-term-care facilities, like nursing homes.
  • Buyers are paying more for most health care companies, especially labs and imaging centers.
  • Many other mergers were initiated in the third quarter but did not have disclosed deal values.
  • Thad Kresho, who tracks health care deals for PwC, expects even more transactions by the end of the year, partially due to increasing interest by private equity investors.

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Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty Images

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Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues.

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Wanted: New media bosses, everywhere

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The Washington Post, Los Angeles Times, Reuters, HuffPost and Wired are all looking for new editors. Soon, The New York Times will be too.

Why it matters: The new hires will reflect a new generation — one that's addicted to technology, demands accountability and expects diversity to be a priority.