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Lancaster General Health to officially join UPenn Health System

Lancaster (Pa.) General Health will become a member of Penn Medicine, the parent organization of Philadelphia-based University of Pennsylvania Health System, August 1.

The systems began discussing a potential deal in October 2014, and they finalized an agreement in April. The Pennsylvania Attorney General's Office and the Federal Trade Commission have reviewed the agreement, and the organizations recently received regulatory approval to move forward with the transaction.  

The partnership will allow Penn Medicine to provide for the needs of the LG Health community.

LG Health's community benefits efforts and governance will remain under its current board of trustees, which includes 14 business and community members and LG Health CEO Thomas E. Beeman. Lancaster-based Pennsylvania College of Health Sciences will also remain a part of LG Health.

"A shared mission of innovation in all facets of healthcare is what brought us together and empowers us going forward as we embark on new discoveries to improve lives in our communities and across the commonwealth," said University of Pennsylvania Health System CEO Ralph W. Muller in a statement.

More articles on hospital transactions and valuation issues:
Sentara Healthcare and Pratt Medical Center seal partnership deal
Capella to be sold for $900M: 5 things to know about the deal
Merger mania may spread from health insurers to hospital operators 

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