Geisinger Health System signed a definitive agreement to acquire Bloomsburg (Pa.) Health System, which includes a physicians group and the 72-bed Bloomsburg Hospital.
Geisinger to acquire Bloomsburg Health System
A review of the deal by Pennsylvania's health department and attorney general's office is expected to take at least six months, said Regis Cabonor, president and CEO of the Bloomsburg Health System, in a news release announcing the deal. The system's governing board will become an advisory board following the deal, according to the release.
The deal to acquire Bloomsburg follows last November's announcement that two-hospital Geisinger, based in Danville, Pa., would acquire Shamokin Area Community Hospital, Coal Township, Pa.
Bloomsburg reported operating losses in fiscal 2010 and 2009, the most recent years for which figures are publicly available. The system lost $1.3 million from operations on revenue of $64.3 million in 2010. That's compared with an operating loss of $2.9 million on revenue $63.2 million the prior year.
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