Highmark To Buy Erie’s Saint Vincent Health System
By Bill Toland, Pittsburgh Post-Gazette | |
McClatchy-Tribune Information Services |
The deal, if consummated by the end of 2012 as the two organizations expect, means that
"Here's the bottom line -- the community needs two strong tertiary care hospitals," said
The deal also seems to put to rest the notion that
Officials at Saint Vincent, a 428-bed Catholic hospital that serves the
"Saint Vincent has been looking for a strategic partner for several years,"
While
"We have been assured by
The Tuesday announcement marks
Last year,
In June,
As in
While
Dr. Winkenwerder,
But
"We don't want to end up with two
Despite the proximity to
"We're not trying to close off choices," Dr. Winkenwerder said.
The deal will have to be cleared by the state attorney general and the county's Orphans' Court, which supervises the transfer of assets between nonprofit or charitable institutions.
Asked if the letter of intent had any walk-away language built into it, which would allow either party to spike the deal if it weren't consummated by a certain date,
"We do this once every 137 years," he said, referencing the
But then, so it seems is everybody else.
At a meeting with
The private meeting, held Wednesday evening in
As evidence,
Of the two systems,
That one system, in turn, would be an attractive asset to UPMC, to the nearby mid-state
Though the system would not confirm the specific nature of its talks, Altoona spokesman
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