Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

Olean General, Bradford Regional enter final steps of merger process

After initially integrating under the umbrella organization Upper Allegheny Health System, Olean (N.Y.) General Hospital and Bradford (Pa.) Regional Medical Center submitted a certificate of need application to officials in New York and Pennsylvania to formally merge.

Officials said in an emailed news release they initially sought a formal merger in 2009, but opted to integrate the health systems under a common parent organization at the recommendation of state officials.

However, after recent discussions with state regulators, the organizations filed a certificate of need application with the New York State Department of Health, the New York State attorney general, the Pennsylvania Department of Health and the Pennsylvania attorney general.

Officials said the merger would create approximately $1.8 million in revenue. The health facilities will remain independent and will continue to provide all clinical services and programs once the merger is complete. Hospital employment, along with the current wage and benefit structures, will also remain intact, the news release states.

The transaction is pending regulatory approval, which officials expect to take approximately one year to complete.

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Learning Opportunities

Featured Whitepapers

Featured Webinars