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Penn State Health completes purchase of 120-member physician group

Penn State Health, the parent company of Penn State Health Milton S. Hershey (Pa.) Medical Center, completed its acquisition of Lancaster, Pa.-based Physicians' Alliance, the Central Penn Business Journal reports.

The terms of the deal were not disclosed. However, officials said the nearly 120-member physician group will be integrated into the health system Oct. 1.

Penn State Health will also acquire Central Penn Management Group, which handles the physician group's finance, human resources and health IT services. The health system holds a 51 percent stake in the company, and will complete the transaction by acquiring the remaining 49 percent, according to the report.

The health system revealed plans to purchase the physician group in April.

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