After receiving final regulatory approval, University of Pennsylvania Health System plans to complete its acquisition of Doylestown Health next week, writes Harold Brubaker for The Philadelphia Inquirer.
The deal is set to close Tuesday following reviews by the Pennsylvania Attorney General’s Office and Federal Trade Commission.
“By combining trusted community care with the resources and expertise available through Penn Medicine, we ensure that high-quality, compassionate treatment is always within reach of patients in Bucks County and beyond,” said Penn Medicine CEO Kevin Mahoney.
The 245-bed Bucks County Hospital – the health system’s seventh – will expand Penn’s reach in an area that is facing increased competition from large systems.
Last year, Jefferson Health became the new owner of Lehigh Valley Health Network, while St. Luke’s University Health Care is acquiring Grand View Health, Doylestown’s Bucks County competitor. Capital Health, based in New Jersey, also increased its physician network in the county.
Penn and Doylestown reached a definitive agreement in August, after the hospital’s financial results cleared a hurdle. For the year ended June 30, Doylestown had a $5.9 million operating loss on $446.8 million in revenue, compared to Penn’s $278 million operating profit on $10.9 billion in revenue.
Read more about Penn Medicine’s acquisition of Doylestown Health in The Philadelphia Inquirer.
