The multisystem cooperation agreement unveiled in Maine (See story, p. 18) came amid a flurry of deal-related news. St. Vincent Health System, Erie, Pa., announced plans to affiliate with Catholic Healthcare Partners, Cincinnati.
In addition, Main Line Health, Bryn Mawr, Pa., and Riddle Health System, Media, Pa., closed on an affiliation agreement, while three-hospital Piedmont Healthcare, Atlanta, announced it has completed the purchase of 271-bed Newnan (Ga.) Hospital.
Under the St. Vincent agreement, the sponsors of 456-bed St. Vincent Health Care, the Sisters of St. Joseph of Northwestern Pennsylvania, will become one of six sponsors of Catholic Healthcare Partners with a seat on its board of trustees. Catholic Healthcare Partners would also have a seat on the board of St. Vincent, which has two hospitals.
St. Vincent President and Chief Executive Officer Angela Bontempo would become a senior vice president of the system. St. Vincents board and sponsors have approved the plan, while the Catholic Healthcare Partners board is expected to approve the affiliation in April. The deal is expected to close July 1. Catholic Healthcare Partners operates 27 hospitals in four states.
The deal between Main Line and Riddle, announced in November, received all of the necessary reviews, according to a written statement from Main Line. Riddles only hospital, 192-bed Riddle Memorial Hospital, is one of the few remaining stand-alone facilities in the Delaware Valley, and will become the fourth acute-care hospital in the Main Line system. In joining Main Line Health, Riddle will become part of seven-hospital Jefferson Health System in Radnor, Pa., which includes Thomas Jefferson University Hospital and the Albert Einstein Healthcare Network, both in Philadelpha.
In Atlanta, with all regulatory reviews completed, the Newnan hospital will become Piedmont Newnan Hospital. As part of the deal, Piedmont will provide initial capital investments to support existing services, and will pursue state approval to build a new hospital complex. It will also repay $43 million in Newnan bond debt, officials said in a statement.