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Highmark, WPAHS announce agreement; ER to reopen

Pittsburgh Post-Gazette, November 2, 2011

Highmark Inc. will contribute up to $475 million to West Penn Allegheny Health System in an affiliate agreement that will begin with the reopening of emergency services at West Penn Hospital in Bloomfield. Appointed as WPAHS' interim CEO was Keith T. Ghezzi, a physician and managing director at Alvarez & Marsal Healthcare Industry Group in Washington, D.C. The Alvarez & Marsal website says Dr. Ghezzi specializes in "operational and financial turnarounds." "Our anticipated partnership with Highmark has energized our medical staff and employees," said Jack Isherwood, chairman of the board of WPAHS. The two organizations announced that their boards of directors have approved an agreement, which will soon be filed with the Pennsylvania Insurance Department. The transaction also must be reviewed by the Pennsylvania attorney general and the IRS.