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Kennedy Health, Jefferson Health sign definitive agreement to merge

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Vorhees, N.J.-based Kennedy Health will merge with Philadelphia-based Jefferson Health pending regulatory approval.

The two health systems signed a definitive agreement last week spelling out terms of the integration.

Kennedy's work force will remain unchanged across all locations.Joseph W. Devine will maintain his role as president and CEO of Kennedy, while also becoming an executive vice president of Jefferson.

Jefferson previously merged with Abington Health in May 2015 and plans to acquire Aria Health in July 2016. Through the agreement, Kennedy will have equal representation as Abington and Aria on Jefferson's expanded board.

More articles on transactions and valuations:

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Universal Health Services, LG Health to jointly operate mental health facility

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