Here are four things to know:
1. With Summit Health, WellSpan Health now comprises eight hospitals, more than 19,000 employees, 1,500 physicians and more than 170 patient care locations.
2. The acquisition follows approximately seven months of due diligence by both parties, as well as federal and state regulatory approval. The organizations previously maintained an informal relationship and sought to bring radiation, oncology, neurology and other services to Franklin County.
3. Patrick O’Donnell, president and CEO of Summit Health, will remain in his role and become a member of WellSpan’s executive management team.
4. The acquisition marks WellSpan’s fourth major addition in five years, according to Lancaster Online. The health system made several major acquisitions in 2013, 2015 and 2016.
More articles on transactions and valuations:
Partners, Care New England end partnership talks with Lifespan
Pre-merger planning: Key to achieving strategic goals and cost synergies
10 healthcare companies likely to be acquired in next year
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