Danville, Pa.-based Geisinger's acquisition by Oakland, Calif.-based Kaiser Permanente will take "everything that people are familiar with and love about Geisinger and [build] on that to bolster it and sort of give it that turbo-boost," Geisinger CEO Jaewon Ryu, MD, told pennlive.com April 27.
Kaiser and Geisinger announced the planned acquisition April 26. Geisinger will be the first to join Risant Health, a new nonprofit organization that aims to expand and accelerate the adoption of value-based care in "diverse, multi-payer, multi-provider, community-based health system environments." Dr. Ryu will transition to the role of Risant Health CEO once the transaction closes.
Dr. Ryu told the outlet that joining Risant will result in "doubling and tripling down and bolstering the programs we have, but also bringing new capabilities, whether it's consumer insights, or digitally enabled things, tools for providers, patients and [health plan] members, or data and analytics."
Dr. Ryu said the acquisition won't involve layoffs, according to the report. Over time, as it looks to improve quality and lower the cost of care, Geisinger will "look at staffing models of tomorrow as opposed to only staffing models of yesterday," he said. Geisinger operates 10 hospitals as well as Geisinger Commonwealth School of Medicine and Geisinger Health Plan. It employs 25,000 people.
No money is involved in the transaction, but Kaiser plans to invest up to $5 billion over five years to provide technology, tools and expertise for Risant, according to the report. The acquisition is subject to regulatory approval.