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
