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UPMC acquires Susquehanna Health

The UPMC in Pittsburgh completed the acquisition of Williamsport, Pa.-based Susquehanna Health.

The two organizations signed a letter of intent in May following a two-year exploration of a potential partnership.

According to the agreement, UPMC will invest $500 million into UPMC Susquehanna, with its first initiative being an expansion of the emergency, cancer and vascular services. Other projects include the creation of a neurosciences center of excellence and rebuilding a rehabilitation facility.

"We couldn't be more pleased to share and execute our vision for the future of health care with an organization as strong and successful as Susquehanna Health," said Steven Shapiro, MD, executive vice president, CMO and president of the health services division of UPMC in a statement. "We look forward to extending UPMC's expertise and innovative resources to this region."

More articles on transactions and valuations:
Southcoast Health, Care New England end plans to affiliate
Perimeter Healthcare acquires WoodRidge Behavioral Care
14 recent hospital transactions and partnerships

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