Brandywine Hospital and Jennersville Regional Hospital announced today that they will soon become affiliated with Reading Health System through an acquisition agreement that includes the sale of the hospitals and their associated assets.
A total of five hospitals are being sold as part of the agreement:
- Brandywine Hospital in Coatesville
- Chestnut Hill Hospital in Philadelphia
- Jennersville Regional Hospital in West Grove
- Phoenixville Hospital in Phoenixville
- Pottstown Memorial Medical Center in Pottstown
“This alignment with Reading Health System will create an exciting opportunity for our hospital to be part of a local network of hospitals working together to provide quality care,” said Jeff Hunt, CEO of Brandywine Hospital. “We are all focused on service to our patients and offering the medical services needed in our communities.”
“Our hospital plays a crucial role in providing convenient and quality healthcare for our patients,” said Matt Shelak, CEO of Jennersville Regional Hospital. “Reading Health System will help us maintain our critical position as a provider and employer in the community.”
The purchase agreement includes a commitment from Reading Health System to offer employment to all active employees in good standing when the transaction is complete. Privileges will continue for all physicians in good standing on the medical staff.
“Reading Health has a rich 150-year history of providing high-quality, cost-effective healthcare to the communities we serve,” said Clint Matthews, President and CEO of Reading Health System. “The proposed acquisition will ensure the continued development of acute care and related assets, provider network, and capabilities to best serve our region in a cost-effective manner. Integrating our new health plan into the continuum of services offers this expanded region increased access to value-based care and further controls costs for employers and individuals.
“Also, by expanding the scope of our clinical programming through this acquisition, the new system will maximize opportunities to leverage best practices of each organization and further coordinate our brand of high-quality care across the entire system.”
The transaction is expected to close this summer, subject to customary regulatory approvals and closing conditions. Until the transaction is complete, current ownership remains in place.