Under the agreement, which took effect Jan. 29, Pomerene Hospital will be managed by Aultman. The organizations said the affiliation agreement will allow Pomerene to expand its services, increase recruitment and retention, and improve its financial performance.
“The management agreement will allow Pomerene to further develop the longstanding relationship that exists between Pomerene and Aultman and is a natural next step,” Dan Mathie, chair of the board of directors of Pomerene Hospital, said in a news release.
The agreement comes nearly three years after the organizations signed a letter of intent to affiliate. Management teams and staff will remain in place after the affiliation is complete, the organizations said, and Pomerene will keep its name for now.
More articles on healthcare industry transactions:
LifePoint in talks to acquire 30-hospital system, WSJ reports
Rutgers, RWJBarnabas sign clinical agreement
PE firm wants to sell its stake in a hospital chain, but Rhode Island is standing in its way