Penn adds 5 hospitals to health-care network

Article Abstract:

University of Pennsylvania Health System will gain five Pennsylvania, PA, hospitals through a 10-year affiliation deal with Catholic Health Initiatives, the sixth-biggest health network in the US with 68 hospitals. The five hospitals that will be added to Penn's hospital network include St. Agnes Medical Center and Nazareth Hospital, both in Philadelphia, PA; St. Mary Medical Center in Langhorne, PA; St. Joseph Hospital in Lancaster, PA; and St. Joseph Medical Center in Reading, PA. The agreement, which is neither a merger nor a purchase of assets, would allow the medical centers to gain entry to Penn's academic medical facilities and specialty-care programs. Penn, meanwhile, would be allowed to increase its health-care network and its negotiating power with insurance providers.

Comment:

Signs a 10-year affiliation deal that will give University of Pennsylvania Health System 5 Pennsylvania, PA, hospitals

Strategic alliances, Catholic Health Initiatives

---

Moody's reduces Penn bond rating

Article Abstract:

Moody's Investors Service has lowered its rating on $159 million in new University of Pennsylvania Health System bonds. The health system expects a $100 million operating loss for fiscal year 1998, which ended Jun. 30, 1998. But, according to its spokeswoman Lori Doyle, the company is working to boost its profitability. The company was downgraded from stable to negative because of its weaker than expected performance. Although the company was downgraded from Aa3 to A1, Moody still thinks that the company is one of the strongest academic medical systems in the US.

Comment:

Has been downgraded by Moody's Investors Service from Aa3 to A1

Financial analysis

---

Aetna-Jefferson dispute leaves employers wary. (Workers at Jefferson Health Systems hospital contest Aetna U.S. Healthcare benefit contract)

Article Abstract:

Health insurance provider Aetna US Healthcare Inc. and health maintenance organization Jefferson Health System Inc., are locked in contract negotiations. Aetna US Healthcare contracts with Jefferson Health System's hospitals for health services for its members.

Comment:

Health insurance provider Aetna US Healthcare and Jefferson Health System negotiate new contract.

United States, Use of services, Contracts & orders received, Personnel administration, Health Maintenance Organizations, HMO Medical Centers, Jefferson Health System Inc., Aetna US Health Care Inc.

Similar abstracts:

• Abstracts: City hospitals eye the suburbs. (Philadelphia's Jefferson Health Systems and the University of Pennsylvania Health System)
• Abstracts: Virtua, duPont hospitals link care. Penn system is recovering much faster than expected. Activists target Campbell to protest bioengineered foods
• Abstracts: Allegheny repaid Mellon $87 million. Jefferson system may bid for 8 Allegheny hospitals
• Abstracts: Fisher wants trustee to watch AGH endowments. Academic partners are scarce for Tenet
• Abstracts: As Tel-Save stock rose, salaries soared. Breweries discussing a merger. Fueling job growth? Part-timers

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.