Under the agreement, UPMC has committed to invest at least $25 million in 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.
“We are very excited and appreciative of the state’s approval to move forward,” said WCA Hospital President and CEO Betsey T. Wright.
The proposed deal is now in the final stages of the regulatory process. The transaction requires approvals from the New York State Office of Mental Health and New York State Office of Alcoholism and Substance Abuse Service.
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