Jefferson Health and Lehigh Valley Health Network have received regulatory approval to combine, completing a merger to create one of the largest health care systems in the U.S.. The health networks plan a news conference Thursday afternoon.
LVHN is now part of Jefferson, and this new health system is one of the 15 largest not-for-profit health systems in the U.S. with 32 hospitals, more than 700 locations and about 65,000 employed faculty across eastern Pennsylvania and southern New Jersey, a news release from the network states. Annual revenue is estimated to be between $12 billion to $14 billion.
LVHN and Jefferson have said that one of the biggest changes for the Lehigh Valley that will come out of the merger will be the introduction of Jefferson Health Plans, Jefferson’s noncommercial insurance marketplace. Jefferson Health plans offers Medicaid, Medicare Advantage, Affordable Care Act Marketplace and CHIP plans. The CEOs of both networks said the program would improve care for underserved populations and reduce the cost of care.
LVHN traces its start to 1899 when Allentown Hospital opened at 17th and Chew streets. The health network’s flagship location on Cedar Crest Boulevard in Salisbury Township opened in 1974 as a joint venture between Allentown and Sacred Heart hospitals. Sacred Heart later pulled out of the venture, and the medical center eventually became known as Lehigh Valley Hospital-Cedar Crest.
The ensuing decades saw massive growth for the health network, which acquired hospitals in the Poconos, Hazleton and in Schuylkill County as well as Coordinated Health, which was integrated into Lehigh Valley Orthopedic Institute. In recent years, LVHN has opened hospitals in Northampton and Carbon counties. It broke ground Wednesday afternoon on a behavioral health hospital in Hanover Township, Northampton County.
In recent years, Jefferson has acquired multiple hospitals and networks, including Abington Health in Montgomery County, Kennedy Health System in New Jersey and Einstein Healthcare Network, along with others.
This is a developing story. Check back for updates.
LVHN and Jefferson Health announce plans to merge. Here’s what it means for the Lehigh Valley
Source: Berkshire mont