Sign In
Upcoming Event
Free Newsletter
PinnacleHealth to affiliate with UPMC, acquire four midstate hospitals
Lenay Ruhl//March 14, 2017//
Listen to this articlePinnacleHealth has signed a letter of intent to join University of Pittsburgh Medical Center, and it has entered into an agreement with Tennessee-based Community Health Systems Inc. to buy four midstate hospitals, expanding the Harrisburg-based health system’s reach across the commonwealth.
As PinnacleHealth and UPMC move forward in the acquisition process, which is subject to customary regulatory approvals and closing conditions, PinnacleHealth will continue to keep stakeholders — employees, partnering physicians, local employers, insurers and the surrounding community — updated as there are developments to share, a news release said.
UPMC, which is affiliated with the University of Pittsburgh Schools of the Health Sciences, is one of the nation’s largest health systems. It has more than 25 hospitals and about 600 doctors’ offices and outpatient sites. It also provides medical and behavioral health insurance for more than 3 million members.
By adding PinnacleHealth to its umbrella, UPMC will gain PinnacleHealth’s three hospitals in addition to the four hospitals PinnacleHealth is in the process of buying from CHS.
The midstate hospitals PinnacleHealth is planning to purchase are Carlisle Regional Medical Center in Cumberland County, Memorial Hospital in York County and two Lancaster County hospitals: Lancaster Regional Medical Center and Heart of Lancaster.
PinnacleHealth’s deal with CHS is expected to close in the summer of 2017, subject to regulatory approvals and closing conditions, a news release said.
“It’s an exceptional chance for growth and positions us extremely well for the future,” said PinnacleHealth president and CEO Philip W. Guarneschelli. “We continue with enthusiasm and a strong belief that this advances our goals to improve the well-being and health of our community. UPMC supports PinnacleHealth’s vision, long-standing values and traditions — including our commitment to investing in the community.”
Read the full press releases here.
PinnacleHealth and UPMC Sign Letter of Intent by CPBJ on Scribd
PinnacleHealth to Acquire Four Central Pennsylvania Acute Care Hospitals by CPBJ on Scribd
