Philadelphia-based Aria Health System and Philadelphia-based Jefferson — a newly formed organization that includes Thomas Jefferson University and Jefferson Health — have signed a non-binding letter of intent, which will facilitate discussions toward integrating Aria into Jefferson Health.
The Aria Health board of directors and the Thomas Jefferson University board both voted unanimously to authorize the signing of the LOI after a two-year strategic planning process.
With the signing of the 90-day LOI, Aria and Jefferson begin a due diligence process. The organizations believe the discussions will lead to a definitive agreement setting the terms of Aria Health's integration with Jefferson. The organizations anticipate the transaction to be complete in late spring 2016.