In a conference call Wednesday, officials said Geisinger will assume all of Jersey Shore Hospital’s assets and liabilities, but that the hospital will remain independently licensed. Officials said all employees with good standing will have a position with Geisinger and will have the option to transfer to other Geisinger locations.
Jersey Shore Hospital will be the health system’s first critical access hospital. The facility will continue to operate primarily as an inpatient facility, but officials said they will consider adding additional outpatient services if the community expresses a desire to add them.
The agreement is subject to regulatory approval, which officials expect to obtain by the end of the summer. The organizations reportedly began discussing the potential partnership about a year ago.
“In today’s challenging healthcare environment, it is extremely difficult for small, independent facilities to thrive without becoming part of a larger organization,” said Jersey Shore Hospital President and CEO David Shannon. “That we could do so for so long is due in large part to the hard work and dedication of our employees and medical staff. Now, with Geisinger, we believe we have a larger health system that shares our commitment to putting patients first and ensuring local access to quality care.”
More articles on transactions and valuations:
HealthEast, Fairview Health Services receive final OK to merge
Hackensack Meridian, St. Joseph’s Healthcare to partner on home health, hospice services
Yale New Haven, Day Kimball Healthcare partner to improve clinical care
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
