Highmark wants to pump $175M into Allegheny Health Network

Health insurer Highmark is looking to infuse $175 million into Allegheny Health Network in Pittsburgh, claiming that Allegheny Health Network needs the money to pay bills and make capital improvements, according to a TribLive report.

Highmark recently wrote a letter to the Pennsylvania Insurance Department, saying Allegheny Health Network encountered lower-than-expected volumes, according to the report. The letter, the report notes, also indicated that Highmark has revised Allegheny Health Network's capital investment plan, which requires additional funding.

Highmark has asked the Pennsylvania Insurance Department to approve its request by March 15.

Allegheny Health Network formed in 2013 and now includes seven hospitals.

 

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