The Jefferson and Lehigh Valley health networks have inked a letter of intent to combine. It’s non-binding, but executives at both health care providers endorsed the concept in a joint statement Tuesday.
Next, the entities must negotiate and execute a definitive agreement and clear regulatory hurdles, a process that the parties expect to conclude by the end of 2024. For now, Jefferson and LVHN will continue to operate as separate networks.
Jefferson operates Jefferson Bucks Hospital in Falls Township, Rothman Orthopaedic Specialty Hospital at Bensalem, and Jefferson Abington Hospital in Montgomery County. Thirty additional affiliated practices span Bucks County from Bristol to Sellersville. All told, the system employs about 42,000 people in Philadelphia, Bucks and Montgomery counties in Pennsylvania and Camden and Gloucester counties in New Jersey.
Lehigh Valley Health Network operates 13 hospital campuses, including four in Allentown, two in Bethlehem and one in Easton and more than 300 primary and specialty care physician practices, including LVPG Orthopedics and Sports Medicine in Richland Township and, through a partnership with Grand View Health, the Health Center at Quakertown.
“Combining Jefferson’s and LVHN’s resources will allow us to meet the changing needs of our diverse communities faster, more efficiently and more effectively,” said Jefferson CEO Joseph G. Cacchione in a statement. “Together — with our combined network of resources and sites of care, managed care expertise, education and research capabilities — we will have the ability to make significant improvements to health outcomes and address health disparities in this region, and beyond, to the benefit our communities, patients, physicians, faculty, staff, students and health plan members.”
In the same statement, LVHN CEO Brian A. Nester called Jefferson and “ideal partner that shares our culture and commitment to excellence in clinical care and a learning environment.”
“We are thrilled to be combining with Jefferson and excited about the immediate and long-term benefits this combination will create for the communities of the Lehigh Valley and eastern Pennsylvania,” said Nester.
In the combined system, Cacchione will serve as CEO of the Jefferson Enterprise. Nester, who will report to Cacchione, will serve as Executive Vice President/CEO of the legacy Lehigh Valley Health Network.
According to the statement, the combined network would boast more than 700 sites, with particular strength in primary care, expanded academic programs and clinical research, and improved financial stability, which would allow continued investment “in innovative treatment capabilities and R&D.”
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