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Stanford Health Care, ValleyCare merger approved

Stanford (Calif.) Health Care has received approval from California Attorney General Kamala Harris to move forward with its acquisition of Pleasanton, Calif.-based ValleyCare Health System, according to a Pleasanton Weekly report.

ValleyCare has been experiencing financial troubles in recent years and has been searching for a partner for nearly a year.

Although Ms. Harris approved the deal between Stanford Health Care and ValleyCare, she is requiring that ValleyCare continue to offer most of its current services for at least five more years, according to the report.

Stanford will now have a chance to review the conditions imposed on the deal by the attorney general. If Stanford moves forward with the transaction, ValleyCare will become its subsidiary.

More articles on healthcare industry transactions:

Meridian Health, Raritan Bay finalize merger
10 recent hospital partnerships and transactions
Shares of Ventas spike after announcing $1.75B Ardent deal

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