Erie County Orphan's Court approves Highmark and Allegheny Health Network affiliation with Saint Vincent Health System
PITTSBURGH, May 31, 2013 /PRNewswire/ -- Today, the Orphan's Court of Erie County approved Highmark and Allegheny Health Network's affiliation with Saint Vincent Health System. For Saint Vincent, this means its affiliation with Highmark and Allegheny Health Network will close on July 1.
Highmark and Allegheny Health Network's support to Saint Vincent will benefit the community in a number of ways, including a $20 million cash investment to help Saint Vincent maintain financial soundness and $5 million for capital projects at Saint Vincent to support the health care mission of the Sisters of St. Joseph. In addition, Highmark and Allegheny Health Network will support Saint Vincent in its investment of more than $40 million over the next three years to improve the existing facilities of Saint Vincent and invest in new assets for the Erie region and northwest Pennsylvania. The Sisters of St. Joseph will receive a one-time cash disbursement of $10 million.
This affiliation will enable Saint Vincent to strengthen its position in providing a strong choice for health care in the Erie region and accelerate its growth strategy in the northwestern Pennsylvania and southwestern New York areas.
Allegheny Health Network, one of the nation's largest integrated delivery networks, includes the five hospitals of West Penn Allegheny Health System, Jefferson Regional Medical Center, and now Saint Vincent Health System, along with Premier Medical Associates and other group practices, scores of physicians, a medical group purchasing organization, a physicians' administrative organization, ambulatory surgical centers and a medical mall.
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