Under the agreement, UPMC has committed to invest at least $25 million in 317-bed WCA Hospital over the next 10 years. The funds will be used for physician recruitment, facility upgrades and EMR capabilities. UPMC will also assume WCA Hospital’s debt and pension obligations.
“WCA’s integration with UPMC, one of the premier healthcare systems in the nation, is a major step toward a strong future for healthcare in our community,” said Steve Kilburn, chair of the WCA Hospital board of directors, according to the report.
More articles on healthcare industry transactions:
Good, bad or too tough to say? What 4 health system CEOs think of hospital consolidation
2015 healthcare deal volume slows as end of year nears
FTC, state regulators oppose Penn State Hershey, PinnacleHealth merger
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.