The transaction, which still needs regulatory approval, is expected to close in June. The boards of both systems have already approved the deal.
The CEOs of both organizations showed excitement about the transaction.
“We look forward to growing and enhancing Robinson’s services and programs to continue their long-standing tradition of providing patient-focused, superior-quality healthcare close to home,” said Thomas F. Zenty III, CEO of University Hospitals.
“Without question the agreement with University Hospitals will further strengthen Robinson and help us fulfill our mission to provide high-quality patient-centered healthcare to our patients and the communities that we serve,” said Stephen Colecchi, president and CEO of Robinson.
More articles on healthcare transactions:
31 hospital transactions and partnerships in March
Wellmont, Mountain States Health Alliance expected to merge
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.