WVU Medicine announces expected date of Independence acquisition
The West Virginia University Health System expects to close a transaction in which it will acquire Independence Health System in late-September or early-October, the health systems announced Tuesday, June 2.
The health systems have signed a definitive agreement related to the impending transaction, which is pending certain remaining regulatory approvals, the Tuesday announcement said.
“This agreement secures a stronger future for our hospitals, our caregivers and the patients who depend on us,” Ken DeFurio, president and CEO of Independence Health System, said in a news release. “It brings the scale, capital and clinical strength needed to protect local access to care and positions this region for long-term growth.”
Plans for Independence Health System, which includes Butler Memorial Hospital and Hospital, to become part of the WVU Health System, also called WVU Medicine, were first announced in November at a news conference.
As part of this transaction, WVU Medicine has agreed to make an investment of $800 million in Independence Health System’s five hospitals, an amount that the system calls “unprecedented.”
These investments will include a new electronic medical record system, significant facility upgrades and expansions, and enhanced clinical capabilities designed to improve access to care and broaden the services available to patients across the region.
Executives from Independence Health have previously said WVU Medicine will aim to turn Butler Memorial Hospital into a “tertiary hub” for Western Pennsylvania. Upgrades are expected to target the emergency room and OB-GYN department at Butler Memorial Hospital.
“This moment marks an important step toward Independence Health System joining our organization,” said Albert L. Wright, Jr., president and CEO of the WVU Health System, said in a Tuesday news release. “I remain grateful to Ken DeFurio and his Board for the trust they are placing in us to ensure their hospitals remain strong and vibrant for generations to come.
“Our commitment to their patients, employees, and physicians, as well as the communities their hospitals serve, is to invest in the people, programs, technology, and infrastructure that will position these hospitals for long-term success.”
Upon closing, the transaction will further expand the WVU Health System’s network of hospitals, outpatient facilities and specialty services. It will have reach across West Virginia, Pennsylvania, Maryland and Ohio.
“This partnership is about preserving and expanding access to high-quality healthcare close to home,” Wright said. “By bringing our organizations together, we can strengthen services throughout southwestern Pennsylvania while enhancing opportunities for clinical collaboration, recruitment, research, education, and specialty care access.”
