The Maine Department of Health and Human Services approved the deal last week, and Pen Bay is expected to become a full member of MaineHealth by the end of the year, according to the report.
As part of the deal, MaineHealth will contribute $3 million to Pen Bay for electronic medical records. Pen Bay trustees will be chosen by MaineHealth’s board, and Pen Bay will have one member on the 16-member system board.
The merger faces several stipulations from the department of health. Among them, Pen Bay must realize $1 million in administrative savings within 36 months, and Pen Bay’s employed physicians must accept patients regardless of their coverage type or ability to pay. It may also not increase its prices more than 3 percent, according to the report.
Read the Herald Gazette report on Pen Bay Healthcare.
Read more coverage on Pen Bay Healthcare:
– Pen Bay Healthcare Approves Merger With MaineHealth
– Three Maine Hospitals Announce Job Cuts
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