Penn State Health is one step closer to acquiring another in-state hospital. Pennsylvania State University's board of trustees has approved plans for the acquisition of St. Joseph Regional Health Network from Englewood, Colo.-based Catholic Health Initiatives.
The proposal for acquiring the single-hospital system based in Reading will be submitted to the Pennsylvania attorney general and the Federal Trade Commission for approval. The deal, which was approved by CHI's board in December, also must be authorized by the Vatican.
St. Joseph and State College-based Penn State Health formed a clinical relationship in 2010, allowing the academic medical system to provide specialty care for adult and pediatric patients from the region, including cancer care, high-risk obstetrics and neurological treatment. Penn State also opened a pediatric multispecialty practice on St. Joseph's Bern Township campus in 2011. It added vascular surgery services in 2013.
Officials on both sides of the deal said it was important to give St. Joseph Regional patients better access to subspecialty care, while allowing Penn State to better manage health across the region.