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Meadville Medical acquires Titusville Area Hospital: 6 things to know

Titusville (Pa.) Area Hospital officially became part of Meadville (Pa.) Medical Center Thursday, according to a Meadville Tribune report.

 Here are six things to know about the merger.

1. Paperwork for the merger was signed last week.

2. Under the deal, Titusville Area Hospital will continue to operate under on its own name, with its own staff and board of directors.

3. Hospital officials said patients won't notice a difference as a result of the merger — except a possible enhancement of medical services, ,according to the report. Staffing changes are also not anticipated.

4. With the merger, about half the money Meadville has borrowed will go toward paying Titusville's short-term debt and accounts payable, said Anthony Nasralla, president and CEO of Titusville Area Hospital, according to the report. The other half will help fund capital improvements at Titusville Area Hospital and working capital for the hospital.

5. A potential merger between the two organizations first came to light in August when the two hospitals sought $8 million in funding through the Crawford County Hospital Authority, according to the Meadville Tribune. Meadville Medical Center used the money to purchase Titusville Area Hospital and its related corporations. Talks between the two began in earnest late last year.

6. The entities had already collaborated on multiple efforts prior to the merger, including physician recruitment. In the future, they will "try to identify key areas where we might put some potential resources for the future," said Philip Pandolph, president and CEO of Meadville Medical Center, according to the report. That could include the addition of a rural health clinic in eastern Crawford County, or a continuation and expansion of pain management services in the Titusville area, the report notes.

 

More articles on healthcare transactions:

Eastern Maine Healthcare Systems adds 9th hospital to its network
West Jefferson Medical Center becomes part of LCMC Health: 5 things to know
Nobilis widens hospital network in Arizona: 6 things to know

 

 

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