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Penn State Health to acquire hospital from Geisinger

Penn State Health has signed a definitive agreement to acquire Holy Spirit Health System in Camp Hill, Pa., from Geisinger Health. 

Hershey, Pa.-based Penn State Health and Danville, Pa.-based Geisinger entered into the definitive agreement about eight months after signing a letter of intent. 

Under the transaction, expected to be completed in October, Penn State Health will acquire Holy Spirit Hospital, its affiliated outpatient practices and urgent care centers, Ortenzio Heart Center, and West Shore EMS. After the transaction closes, Holy Spirit Hospital will be renamed Penn State Health Holy Spirit Medical Center. 

"Holy Spirit's hospital, employed medical group and strong community of independent practice physicians, working in collaboration with our Milton S. Hershey Medical Center, offers consumers a strong competitive alternative for healthcare services," said Penn State Health CEO Steve Massini in a news release. "We're pleased we could reach agreement with Geisinger to bring Holy Spirit into the Penn State Health family."

The transaction requires regulatory approval by the Federal Trade Commission and the Pennsylvania attorney general. 

More articles on healthcare industry transactions:
Advocate Aurora, Beaumont merger would create $17B system with 36 hospitals
HCA to sell hospital, exit Mississippi
Hedge fund makes bid for bankrupt hospital chain

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