Montgomery Hospital Medical Center, Norristown, Pa., would join the Albert Einstein Health Network, Philadelphia, in a partnership the two not-for-profit institutions are discussing.
The two organizations said they hope to present a deal to their boards for approval this fall. Under the partnership, 143-bed Montgomery Hospital would continue to operate while a new hospital would be built nearby.
The Einstein network is part of the Jefferson Health System, the region's largest hospital system, and has long wanted to expand into Montgomery County. Barry Freedman, president and chief executive officer of Einstein, said a partnership with Montgomery Hospital "is a marriage that was meant to be."
Montgomery Hospital, founded in 1889, posted patient revenue of $83.6 million in its last fiscal year but lost money on operations. "Partnering with Einstein . . . will help us continue to grow and expand services in an increasingly competitive healthcare environment," said Timothy Casey, Montgomery's president and CEO.