PinnacleHealth to Acquire Four Central Pennsylvania Acute Care Hospitals from Affiliates of Tennessee-based Community Health Systems
On: March 15, 2017 Filed Under: Member News
Harrisburg, Pa. (March 14, 2017) —PinnacleHealth System (“PinnacleHealth”) today announced it has signed an Asset Purchase Agreement to acquire four acute care hospitals affiliated with Community Health Systems (“CHS”). The transaction is expected to close in the summer of 2017, subject to customary regulatory approvals and closing conditions.
The four Pennsylvania hospitals involved in the transaction are:
- Carlisle Regional Medical Center, Carlisle
- Heart of Lancaster Regional Medical Center, Lititz
- Lancaster Regional Medical Center, Lancaster
- Memorial Hospital of York, York
“We are excited to bring these quality hospitals, their employees and physicians into the PinnacleHealth family,” said Philip W. Guarneschelli, FACHE president and CEO. “Together we will build on and strengthen their history of quality and success, and we look forward to continuing strong, collaborative relationships with employed and partnering physicians.”
“Local employers and the business community want great quality care at affordable pricing for employees and their families, and we’re acting to meet that request. We believe exceptional, cost-effective healthcare should be part of every community,” he added.
The four hospitals will become part of PinnacleHealth’s integrated not-for-profit healthcare system. PinnacleHealth, with three acute care hospitals, has a history of community-based care, collaborative physician relationships and delivering coordinated, integrated healthcare services, in addition to supporting rural hospitals through affiliations and telehealth services.
Kaufman, Hall & Associates LLC is acting as the exclusive financial advisor to PinnacleHealth on this transaction, and McNees Wallace & Nurick LLC is acting as its legal counsel.
About Carlisle Regional Medical Center
For more than 100 years, Carlisle Regional Medical Center (CRMC)—formerly Carlisle Hospital—has served Carlisle and the surrounding communities with quality, compassionate, and excellent healthcare. With 165 beds available on three floors, CRMC offers progressive outpatient services in addition to its inpatient care.
About Lancaster Regional Medical Center
As one of the first hospitals in Lancaster County, Lancaster Regional Medical Center in downtown Lancaster has been providing compassionate, personal care for more than 122 years. The hospital offers all private patient rooms and a range of inpatient and outpatient medical and surgical services administered by physicians and staff and a full continuum of care, including many community outreach programs.
About Heart of Lancaster Regional Medical Center
Heart of Lancaster Regional Medical Center, a full-service community hospital located on a scenic campus in Lititz, Pennsylvania, offers 148 licensed beds. Together, Lancaster Regional and Heart of Lancaster Regional Medical Centers rely on the dedication and talent of their associates, more than 500 physicians and almost 350 volunteers to provide compassionate, personal care.
About Memorial Hospital
Memorial Hospital, a community teaching hospital, has been committed to promoting, improving and enhancing the health and well-being of the York community for more than 65 years. As a premier medical center, Memorial offers a full array of quality patient services including emergency, maternity, cardiovascular, critical care, surgical (including robotics), imaging, and more. Memorial is dedicated to providing exceptional customer experiences.
About PinnacleHealth System
PinnacleHealth System has been a leading provider of inpatient and outpatient healthcare services in central Pennsylvania since 1873. The 627-bed system has three acute care hospitals (Community General Osteopathic, Harrisburg and West Shore Hospitals) on four campuses (Community, Harrisburg, Polyclinic and West Shore) serving a five-county service area and supporting rural hospitals through affiliations and telehealth services. The system has approximately 6,000 employees and more than 1,250 physicians and allied health professionals. PinnacleHealth pursues innovative treatment options for the region through cardiac and cancer clinical trials, while offering convenient community services including medical home-certified primary care, urgent care, Magnet-recognized nursing excellence, emergency services, imaging, high-volume maternity care and a level III NICU, and workplace-based wellness services. PinnacleHealth includes a CardioVascular Institute and Cancer Institute, as well as a Bone and Joint Institute, Neurosurgery and Neurosciences Institute, and Spine Care Center that combine a multi-disciplinary approach to comprehensive spine, bone, joint, orthopedic and sports medicine services. PinnacleHealth is recognized for high-quality care with national and regional recognitions for volumes, outcomes and safety. For more information, visit pinnaclehealth.org.