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WellSpan, Summit Health to affiliate: 3 takeaways

Summit Health, a two-hospital system in Chambersburg, Pa., and six-hospital system WellSpan Health in York, Pa., signed an affiliation agreement, WellSpan announced June 29.

Here are three things to know:

1. Under the agreement, Summit Health will consolidate into the nonprofit WellSpan system. The volunteer boards of each organization approved the definitive agreement June 29.

2. The organizations initially signed a memorandum of agreement in April. Officials expect to finalize the deal within a few months, pending regulatory approval.

3. WellSpan and Summit Health officials said the deal will allow them to collaborate in a number of areas, including sharing best practices in quality improvement and care redesign and training and recruiting more physicians and other healthcare professionals.

More articles on transactions and valuations:
Global M&A on pace to reach record-breaking $4.8T in 2018
Shuttered 128-bed California hospital sells for $33M
24 healthcare partnerships and transactions in June

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