Saint Vincent, the only Catholic system in northwest Pennsylvania, is anchored by the 468-bed Saint Vincent Health Center. The 412-bed UPMC Hamot, acquired by University of Pittsburgh Medical Center in February 2011, is also located in Erie.
The partnership is expected to resemble that between Highmark and Jefferson Regional Medical Center in Jefferson Hills, Pa. Highmark agreed to give Jefferson’s foundation $75 million, spend up to $100 million on upgrades and assume roughly $200 million in debt and pension obligations in exchange for majority control of the hospital’s board, according to the report.
Highmark’s other pending acquisition, West Penn Allegheny Health System in Pittsburgh, nixed affiliation plans roughly three weeks ago. The payor filed suit against West Penn shortly afterward in an attempt to block it from talks with other suitors. An injunction hearing for that complaint is scheduled for Oct. 25 through Oct. 26.
More Articles on Highmark:
Several West Penn Physicians Dissatisfied With Highmark Split
West Penn Willing to Resume Talks with Highmark
With West Penn Deal on the Rocks, Will Highmark Return to the Drawing Board?
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