Pittsburgh Tribune-Review, November 13, 2012
Three days after a judge ruled that West Penn Allegheny Health System must remain in a merger deal with Highmark Inc., top leaders of the two organizations discussed plans to get the $475 million transaction back on track. West Penn lost $112.5 million from operations in the year ended June 30, and its finances are worsening. Officials have predicted the system could be out of money in 3-6 months. Highmark wants to acquire the West Penn as the centerpiece of a new, $1 billion health system to compete against UPMC. In a joint statement issued on Monday, West Penn and Highmark said they have met with the health system's bondholders and more meetings are planned.