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AtlantiCare, Geisinger Health System Sign Definitive Agreement

AtlantiCare in Atlantic City, N.J., has signed a definitive agreement to become a member of Geisinger Health System in Danville, Pa.

Under the agreement, AtlantiCare will retain its brand name and local autonomy, according to a news release. The partnership will focus on the implementation of evidence-based medicine, enhancing clinical services, optimizing the use of electronic health records and clinical informatics, implementing population health management and moving toward value-based payment models. Financial terms of the deal were not disclosed.

"It is an especially challenging time in healthcare; however, we stand at the brink of making significant enhancements that will benefit patients for generations to come," Geisinger President and CEO Glenn Steele, Jr., MD, PhD, said in the release. "Today's announcement is good news for the people we serve, and we look forward to making a positive difference in southern New Jersey."

Geisinger and AtlantiCare originally signed a letter of intent this past November to partner. The proposed integration now moves on to the regulatory approval phase, which is expected to take 9 to 12 months.

More Articles on Health System Transactions:
6 Recent Hospital Transactions and Partnerships  
Lahey Health, Winchester Hospital Expected to Finalize Affiliation by July  
The Details of Hospital Transactions and Real Estate Deals: Q&A With VMG Health's Frank Fehribach 

 

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