Aria Health, a three-hospital integrated health system in northeast Philadelphia and Lower Bucks County, has signed a letter of intent to join Jefferson Health, the rapidly-growing health system formed by the merger of Abington and Jefferson in May 2015. The Aria and Jefferson boards both voted unanimously to authorize the signing of the LOI. Jefferson will help Aria to further develop its information technology, outpatient services and physician alignment. As part of Jefferson, Aria will be better positioned to meet the demands of population health management, including improved patient experience and the lowering of the per person cost of healthcare, elements which are critical to the future success of healthcare systems nationwide.
Juniper was engaged by the Aria Health Board of Directors to advise the system in seeking a potential partner which could best meet the long-term strategic goals of the organization. Juniper executed a rigorous competitive process which elicited a wide range of potential partners and structures. This process included drafting information materials, conducting intensive reverse due diligence between the parties and negotiating the terms of the agreement. In addition to the Board, a steering committee task force and a physician committee were also engaged to help evaluate the financial and non-financial benefits proposed by each potential partner. Juniper will continue to assist Aria through the completion of confirmatory due diligence, the signing of a definitive agreement and the receipt of all requisite regulatory approvals.
Aria is three-hospital, nonprofit health system and the largest healthcare provider in northeast Philadelphia and Lower Bucks County. Along with the three modern inpatient facilities, Aria has a growing network of outpatient centers and physician practices. With 485 licensed beds across the system, Aria employs nearly 4,000, has a medical staff membership of more than 1,000 and is an important economic engine for the communities that it serves.
Jefferson is a rapidly-growing five-hospital health system spread across the city and suburbs of Philadelphia, Montgomery and Bucks Counties in Pennsylvania and Camden County in New Jersey. Jefferson’s flagship, Thomas Jefferson University Hospital, is the largest freestanding academic medical center in Philadelphia. The system, comprised of 19,000 employees, serves more than 78,000 inpatients, 238,000 emergency patients and 1.7M outpatient visits annually. Thomas Jefferson University, also part of the health enterprise, enrolls more than 3,900 future physicians, scientists, nurses and health professionals. Aria joins Jefferson on the heels of Jefferson’s merger with Abington Health in May 2015.
For additional details, please refer to the press release.