Butler, Excela close in on merger

After signing a letter of intent to merge in June, two Pennsylvania health systems have almost sealed the deal. 

Butler (Pa.) Health System and Greensburg, Pa.-based Excela Health reached a definitive merger agreement Nov. 18, according to CBS News. The next steps are state and regulatory approvals, which are expected to come to pass by year's end. 

The joint system, which remains unnamed, is expected to draw more than $1 billion in revenue, according to the Pittsburgh Tribune-Review. Between Excela's three hospitals and Butler's two, the system would employ about 7,300 people and serve a population of 750,000 across three counties. 

"Our commitment to our patients in providing high-quality, low-cost sophisticated care in our region will be the cornerstone of the new entity," Ken DeFurio, president of Butler Health, said in a news release obtained by CBS News

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