The next step in the acquisition of Independence Health System by West Virginia University Health System is now official.
According to a statement this morning, a definitive agreement has been signed and the transaction is on track to close in the fall of this year.
Back in November, the two health care systems announced their intention for Independence to become part of WVU Health System. Since that time, both sides have been working on shoring up legal approvals and strategic plans.
“This agreement secures a stronger future for our hospitals, our caregivers and the patients who depend on us,” Ken DeFurio, president and CEO of Independence Health System, said in a statement. “It brings the scale, capital, and clinical strength needed to protect local access to care and positions this region for long-term growth.”
WVU Health System is also committing $800 million in investments to Independence’s five hospitals, including Butler Memorial Hospital.
“By bringing our organizations together, we can strengthen services throughout southwestern Pennsylvania while enhancing opportunities for clinical collaboration, recruitment, research, education, and specialty care access,” President and CEO of WVU Health System Albert L. Wright, Jr. said.
The sale is expected to close in late September or early October.
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