Geisinger com­pletes At­lantiCare ac­qui­si­tion

Modern Healthcare - - REGIONAL NEWS - Robeznieks —An­dis

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.

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