Stanford (Calif.) Health Care announced today it has completed its merger with ValleyCare Health System, a single-hospital system in Pleasanton, Calif.
ValleyCare will become a subsidiary of Stanford and will be renamed Stanford Health Care—Valley Care. The deal adds ValleyCare's 242-bed hospital in Pleasanton and various outpatient facilities in Dublin, Calif. and Livermore, Calif. to Stanford's two-hospital Bay Area academic health system.
Day-to-day operations at the new subsidiary will be led by Scott Gregerson, who served as ValleyCare's president and CEO. He will report to Amir Dan Rubin, president and CEO of Stanford Health Care.
The two systems had been in talks since signing a letter of intent in June 2014. At that time, Gregerson told Modern Healthcare that ValleyCare had suffered repeated operating losses and that it was “a challenging time for hospitals of our size.”
“We want to be able to meet the needs of this community going forward and that is a very heavy lift,” Gregerson said last June. “There's a lot of investment that needs to be done.”
