Philadelphia's Jefferson University plans merger with Lehigh Valley Health Network
PHILADELPHIA (CBS) -- Thomas Jefferson University and Lehigh Valley Health Network announced a big merger in the health care industry Tuesday morning. Jefferson said it plans to take over Lehigh Valley Health Network.
The exact terms of the deal are still being worked out.
If it's approved, Jefferson would operate 30 hospitals and more than 700 outpatient sites in Pennsylvania and South Jersey.
Jefferson said the combined benefits would include:
- A quality-focused care delivery model with the ability to expertly manage population health and reduce cost of care.
- A wide-ranging care footprint, with 700+ sites of care across eastern Pennsylvania and southern New Jersey, including hospital, ambulatory and post-acute services, as well as a robust primary care base for preventive care.
- Distinctive clinical services lines that meet patient needs and address health disparities, including strengths in primary care —particularly for patients who have historically faced barriers to high-quality specialty care such as oncology, neurology, orthopedics, cardiovascular and solid organ transplant.
- Expansion of academic programs, and clinical research bolstered by clinical service lines.
- A leading health plan that would strengthen patient choice within the LVHN service area specifically focused on vulnerable and at-risk populations covered by Medicare and Medicaid.
- Academic pathways for health professionals to acquire additional degrees and pathways for new graduates into high-demand positions.
- Sustainable cash flow and improved financial stability, enable the combined organization to continue investing in innovative treatment capabilities and R&D.
It's expected Jefferson and LVHN will sign a definitive agreement and close the transaction in 2024.
In a joint statement, the two sides said: "The combined system will be better positioned to improve the health and well-being of rural and urban communities."
