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Penn Medicine, Chester County Hospital and Health System Sign Letter of Intent

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West Chester, Pa.-based Chester County Hospital and Health System has signed a non-binding letter of intent to join the University of Pennsylvania Health System in Philadelphia.

In August, Chester County Hospital and Health System announced it was seeking a partner to help it gain access to capital for investment in facilities, programs and technologies.

According to the release, the two organizations will begin working on due diligence, final agreements and start the legal and regulatory review process in the hopes of completing the transaction in the spring of 2013.

The terms of the letter of intent were not disclosed.

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