PHCS began evaluating potential partnerships in June 2015. In July, officials submitted a letter of intent to the state to partner with UPHS.
“We are proud of this exciting opportunity to combine Princeton HealthCare’s strong reputation for providing excellent care in the community with Penn Medicine’s strengths as a national leader in complex and specialty care,” said Ralph Muller, CEO of UPHS. “Aligning with PHCS will offer new opportunities for Penn Medicine to expand our services in New Jersey, and enable a mutually beneficial relationship for patients by uniting options for close-to-home care with coordinated access to Penn Medicine’s world-class advanced medicine.”
“Affiliating with the University of Pennsylvania Health System represents the best means of assuring that PHCS and its affiliates can continue to fulfill their mission and charitable objectives in the future,” said PHCS President and CEO Barry Rabner.
More articles on transactions and valuations:
This week’s 3 most-read transactions and valuations stories
16 recent hospital transactions and partnerships
Medtronic to help manage UH Cleveland Medical Center’s labs
