The organizations did not disclose what type of transaction — merger, acquisition, joint venture or other — they are pursuing. They are in the process of hiring a third-party firm to help with the options.
Penn State Hershey and PinnacleHealth are already partners in several areas. They are joint venture partners in the Pennsylvania Psychiatric Institute, a 74-bed teaching and research hospitals focused on mental health. PinnacleHealth’s hospitals also serve as a training site for Penn State Hershey residents, fellows and medical students. Penn State Hershey includes the Penn State College of Medicine.
Officials said any potential collaboration will be focused on improving access to care and increasing the quality and scope of services in the area, according to the news release. Penn State Hershey and PinnacleHealth are expected to reach a deal by March 2014.
PinnacleHealth is also in the process of affiliating with J.C. Blair Health System based in Huntingdon, Pa.
More Articles on Hospital Transactions:
Allina Health, District One Hospital Sign LOI to Affiliate
Judge Approves Prime Healthcare Purchase of Landmark Medical Center
University General Health System Considers Purchase of Lakeway Regional
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
