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PinnacleHealth, Penn State Hershey Medical Center to Partner

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Penn State Milton S. Hershey Medical Center and PinnacleHealth System in Harrisburg, Pa., have signed a letter of intent to form a new health system in central Pennsylvania.

The new enterprise would be governed by a new board comprised of individuals from both Hershey and PinnacleHealth.

Hershey and PinnacleHealth will continue to operate independently until the formation of the new health system is finalized and regulatory approvals are obtained, according to a news release.

"In response to rapidly-evolving market conditions driven by healthcare reform, and with a continued focus on cost effective, high-quality care delivery and accessibility, PinnacleHealth System and Penn State Hershey see the formation of a combined health system as the way forward in maintaining a relentless focus on innovation, a commitment to quality patient care and the discovery of new and better ways to prevent, diagnose and treat disease," said Harold L. Paz, MD, MS, CEO of Hershey, Penn State's senior vice president for health affairs and dean of its College of Medicine, in the release.

More Articles on Healthcare Industry Mergers and Partnerships:

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Beaumont, Botsford and Oakwood Reach Definitive Agreement on $3.8B Merger

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