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Jefferson University, Philadelphia University to merge

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Thomas Jefferson University and Philadelphia University have signed a letter of intent to merge, according to the Philadelphia Business Journal.

The boards of trustees of both Philadelphia-based universities unanimously approved the decision to merge and create "a combination that will drive innovation in health, science, architecture, design, fashion, business and engineering."

The merger is slated to be completed in the summer of 2016. It would create the fifth-largest university in Philadelphia with a combined alumni base of 78,000.

The merger with Philadelphia University marks the third such deal for Jefferson since Stephen Klasko, MD, became CEO of Thomas Jefferson University and Jefferson Health in 2013. The health system has merged with Abington (Pa.) Health and plans to add on Philadelphia-based Aria Health early next year, according to the report.

In October, former General Electric CEO Jack Welch joined forces with Jefferson Health to launch an initiative to better prepare physicians for the changing medical delivery landscape. Under the partnership, the executive MBA program at the Jack Welch Management Institute at Herndon, Va.-based Strayer University and the Thomas Jefferson University's College of Population Health will jointly offer an MBA pathway for physicians.

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