Full Board of Trustees to consider proposed acquisition of St. Joseph Regional Health Network
The Penn State University Board of Trustees' Committee on Finance, Business and Capital Planning today approved a proposal for Penn State Health to acquire Berks County, Pennsylvania-based St. Joseph Regional Health Network.
In doing so, the Committee advanced a recommendation to the University Board of Trustees to approve the acquisition of St. Joseph Regional Health Network. It is anticipated that the Penn State Board of Trustees will consider a motion to approve at its January 16, 2015 meeting.
St. Joseph Regional Health Network, which includes a community hospital and 15 ambulatory care centers, is a not-for-profit, tax-exempt health care provider with more than 1,500 employees, making it the 8th largest employer in Berks County.
Founded in 1873 by the Sisters of St. Francis, St. Joseph provides a full-range of outpatient and inpatient diagnostic, medical and surgical services to Berks County's 410,000 residents. The network's St. Joseph Medical Center in Bern Township is located approximately two miles from the Penn State Berks campus.
“Penn State Hershey and St. Joseph Regional Health Network already enjoy a successful relationship which has increased access to high-quality specialty care for patients and families in the Berks County region in areas such as cancer, neurosciences and pediatrics,” said Dr. A. Craig Hillemeier, dean of Penn State College of Medicine, chief executive officer of Penn State Hershey Medical Center and Health System, and Penn State's senior vice president for health affairs. “Joining forces with St. Joseph would result in the expansion and enhancement of additional services to patients with a focus on making health care better, more accessible and more affordable.”
“Our partnership with Penn State Hershey has been the right fit for us,” said John R. Morahan, president and CEO, St. Joseph Regional Health Network. “We share common missions and values along with a special focus on providing care and advancing clinical services for the benefit of the residents of our communities. We look forward to working with Penn State Hershey in expanding services and developing new models of care and to ensure access to these offerings for the residents of Berks and the surrounding communities.”
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