HARRISBURG, Pa. (WHTM) – PinnacleHealth announced Tuesday it will acquire four hospitals and has signed paperwork to pursue affiliation with the University of Pittsburgh Medical Center.
Press releases state four hospitals will become affiliated with PinnacleHealth through acquisition agreements that include the sale of the hospitals and their assets. Carlisle Regional Medical Center, Memorial Hospital of York, Lancaster Regional Medical Center and Heart of Lancaster Regional Medical Center in Lititz will be sold as part of the agreement.
Also in the purchase agreement is a commitment from PinnacleHealth to offer employment to all active employees in good standing when the transaction is complete.
“(The four hospitals) and PinnacleHealth share a commitment to improving the health of our communities. Aligning (the hospitals’) resources and assets with PinnacleHealth will combine our strengths and create an even stronger system that continues to offer personalized care and quality healthcare services locally,” Phil Guarneschelli, President and CEO of PinnacleHealth System, said in a release.
The transaction is expected to close this summer. Until then, current ownership will remain in place.
Also on Tuesday, PinnacleHealth and UPMC announced paperwork has been signed to pursue an affiliation that would allow PinnacleHealth to expand services.
“PinnacleHealth is excited to begin this new chapter with UPMC—a world-class academic medical center with significant expertise,” Guarneschelli said. “It’s this type of integration and alignment that will strengthen our complementary clinical education programs and medical research efforts. Together, we can innovate more and advance healthcare, while delivering even better health outcomes at a lower cost.”
As is the case with the acquisition of the four hospitals, PinnacleHealth’s agreement with UPMC is subject to regulatory approvals.Get breaking news, weather and traffic on the go. Download our News App and our Weather App for your phone and tablet.