Harrisburg, Pa.-based PinnacleHealth officials said the health system has signed a nonbinding letter of intent to pursue a strategic partnership with Hanover (Pa.) HealthCare Plus, the parent organization of Hanover (Pa.) Hospital.
Under the partnership, Hanover Hospital will remain independent until the organizations' finalize a formal partnership agreement in the next several months. The goal of the partnership is to grow Hanover Hospital's services, recruit physicians and retain current leadership and employees for at least one year and ensure all charitable donations to the hospital remain within the community.
The transaction is pending regulatory approval. This is the fifth transaction the health system has decided to pursue in the last two weeks. PinnacleHealth signed an agreement to purchase four hospitals from Franklin, Tenn.-based Community Health Systems and declared its intent to pursue a partnership with Pittsburgh-based UPMC March 14.
"Being a standalone hospital in Pennsylvania is increasingly challenging," said Michael Gaskins, president and CEO of Hanover Hospital. "We are excited about what this partnership means for our hospital and the dedicated employees and physicians who care for patients every day. Our organization looks forward to working with PinnacleHealth not only to enhance the excellent services we provide today, but to explore ways we can grow and increase access to healthcare services for those in our community."
"PinnacleHealth is thrilled for the opportunity to work with a unique organization like Hanover Hospital, which offers extensive services and state-of-the-art technology while providing exceptional, personalized care to the Adams and York communities," said Philip Guarneschelli, president and CEO of PinnacleHealth. "We're looking forward to working with Hanover's employed physicians who are skilled in offering integrated clinical programs that deliver high-quality, efficient care that result in great patient outcomes. Our goal is not only to support the great care patients have come to expect, but also to develop programs and enhance physician recruitment to offer the community even more services close to home."