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Conemaugh Health System Looks to M&A Market

Conemaugh Health System in Johnstown, Pa., has sent out a request for proposals as the three-hospital system looks to find a larger partner, according to a Pittsburgh Post-Gazette report.

A Conemaugh spokeswoman told the Post-Gazette the health system is "early in the process." The report did not identify which systems received RFPs from Conemaugh.

In October, Conemaugh and Somerset (Pa.) Hospital signed a nonbinding letter of intent to create a collaborative partnership. That deal was a joint venture operating agreement focused on improving continuity of care between the two organizations — and it was not a merger or acquisition.

In fiscal year 2013, Conemaugh's revenue ticked up 1.2 percent to $515.7 million. Operating income dropped almost 33 percent to $11.2 million.

More Articles on Hospital Transactions:
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