Philadelphia's Aria Health Inks LOI to be Acquired by Jefferson Health.
7 October 2015 - Pennsylvania, US-based hospital operators Aria Health System and Jefferson have entered into a non-binding letter of intent to allow discussions toward integrating Aria into Jefferson Health, the companies said.
Both health organisations said they expect the discussions will lead to a definitive agreement setting out the terms of Aria Health's integration with Jefferson Health, the combined clinical entity formed by the merger of Abington and Jefferson in May.
After a two-year strategic planning and partnership exploration process, the Aria Health board of directors voted unanimously to authorise the signing of the LOI to pursue integration with Jefferson.
The Thomas Jefferson University board also voted unanimously to authorize the LOI. The Aria Health board of directors had initiated a strategic planning process at the outset of 2014.
With the signing of the non-binding, 90-day letter of intent, Aria Health and Jefferson begin a process of due diligence that will enable each organization to learn more about the other.
Aria Health is the healthcare provider in Northeast Philadelphia and Lower Bucks County, Pennsylvania. Aria has three acute care hospitals and network of outpatient centres and physicians.
With 485 licensed beds, Aria employs nearly 4,000 and has a medical staff membership of more than 1,000.
A newly formed organisation, Jefferson, encompasses Thomas Jefferson University and Jefferson Health, representing our academic and clinical entities.
Jefferson Health comprises five hospitals, 13 outpatient and urgent care centres, as well as physician practices and everywhere we deliver care throughout the city and suburbs across Philadelphia, Montgomery and Bucks Counties in Pa., and Camden County in New Jersey.
Together, these facilities serve more than 78,000 inpatients, 238,000 emergency patients and 1.7m outpatient visits annually.
Target: Aria Health System
Buyer: Jefferson Health
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed
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|Publication:||M & A Navigator|
|Date:||Oct 7, 2015|
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