Lehigh Valley Health Network in Allentown, Pa., has merged with Pocono Health System, based in East Stroudsburg, Pa., effective Jan. 1.
The deal adds one hospital to Lehigh Valley's growing system. Lehigh Valley currently operates seven hospital campuses and 16 health centers. The system recently merged in September with Schuylkill Health, a two-hospital system based in Pottsville, Pa.
Under terms of the deal, Pocono Medical Center will change its name to Lehigh Valley Hospital-Pocono. Pocono Health System also runs three health centers.
Pocono began efforts to seek a partner three years ago as a result of falling reimbursement.
Pocono Medical Center reported income of $13.1 million in 2014 on revenue of $247.3 million. Lehigh Valley reported income of $41.9 million on revenue of $1.7 billion in 2014.
Pocono Health System also announced its President and CEO Jeff Snyder will resign effective Dec. 31. He will continue to provide consultation during a 30-day merger transition period. Synder said, “I have decided it is time to pursue my desire to lead in a different capacity."
Elizabeth Wise, chief operating officer and chief nursing officer of Pocono, will assume the role of interim president of Lehigh Valley Hospital-Pocono.
Wise has 20 years of healthcare leadership experience, previously serving as chief nursing officer and VP of patient care services at St. Peter's University Hospital in New Brunswick, N.J., and chief nurse officer and senior VP of Washington Hospital Center in Washington, D.C.