Geisinger completes AtlantiCare acquisition
Geisinger Health System, Danville, Pa., extended its reach eastward last week into New Jersey when it added the Atlantic City-based integrated health system AtlantiCare to its organization.
The deal, almost two years in the making, won approval in September from the New Jersey Superior Court’s Chancery Division.
Geisinger recently reported an operating surplus of $159.8 million on revenue of $4.6 billion for its fiscal 2015, which ended June 30. AtlantiCare’s revenue for 2014 was $805 million.
Geisinger CEO Dr. David Feinberg said joining the two systems will help advance population-health efforts, improve quality and enhance care.
The two systems signed a letter of intent to form a unified system in November 2013 as AtlantiCare sought to partner with another organization to create the scale it felt was needed to adapt to healthcare reform. That was followed by an agreement signed May 27, 2014, and approved Sept. 16.
AtlantiCare Regional Medical Center in Atlantic City, N.J., is the system’s flagship campus. AtlantiCare is now part of Danville, Pa.-based Geisinger Health System.