Highmark, Jefferson Regional announce partnership worth at least $275M
Highmark Inc. expects to control 75 percent of Jefferson Regional Medical Center's board of directors by the end of the year, officials said on Tuesday. The two nonprofits announced a "strategic partnership" in which the state's largest insurer will assume $200 million of the Jefferson Hills hospital's debts and obligations, pay $75 million into Jefferson Regional's community foundation and upgrade its emergency department and clinical services. Officials declined to speculate about the cost of the upgrades. "This is not a rescue," Highmark Chairman J. Robert Baum said. "This is instead part of a growth strategy we both have."
- Half of All Primary Care, Internal Medicine Jobs Unfilled in 2013
- How Digital Strategy Shapes Patient Engagement at Boston Children's Hospital
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- CNO on Hospital Redesign: 'You Can't Over-Communicate'
- Carondelet to Pay $35M to Settle Fraud Allegations
- Some Cancer Hospitals' Quality Data Will Soon Be Public
- CA Powers Up $80M HIE to 'Create Value in the Data'
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- 3 Traits Personality Assessments Can't Reveal
- Cleveland Clinic Partners with North Shore-LIJ for Heart Care