Healthcare organizations' concerns about capital access and long-term viability are driving a boom in mergers, acquisitions, joint ventures, and other affiliations. Increasingly, these agreements result in nontraditional partners: nonprofits with for-profits, academic medical centers with investor-owned firms, faith-based systems with secular systems, and affiliations across the continuum of care. Ownership and governance structures also vary in terms of control. Today's healthcare leaders must base their M&A search on a host of factors, including capital access, local market needs, financial support, and growth opportunities—and the risk of being left out. Time and effort must also be invested in priorities after the merger or acquisition is completed. Careful planning around managing the business as well as direct and indirect relationships post-consolidation need to be near the top of every leader's to-do list.