Oakland, Calif.-based Kaiser Permanente's financial statement released May 15 details when it expects its deal for Geisinger Health to close as well as investment details regarding Risant Health, the new nonprofit organization of which Geisinger is slated to become the first member:
1. Kaiser Permanente expects the deal to acquire Danville, Pa.-based Geisinger to close in 2024, pending regulatory approval.
2. Kaiser Foundation Hospitals has designated up to $5 billion to support core Risant Health capabilities, technologies, tools and future investments. Kaiser will invest a minimum of $400 million over a five-year period following closing, inclusive of funds generated by Risant Health.
3. Risant will make a minimum of $2 billion available to Geisinger — inclusive of any Geisinger internally generated and Risant Health funds — as needed through Dec. 31, 2028, to support necessary hospital, ambulatory facility, technology, and other strategic and routine capital.
4. Risant will also assure funding — inclusive of Geisinger internally generated and Risant Health funds — of no less than $100 million through Dec. 31, 2028, to support the expansion of Geisinger's health plan and care delivery services into contiguous communities in Pennsylvania.
5. Risant will ensure that no less than $115 million annually for Gesinger's research and education enterprises — adjusted for inflation and other factors, and inclusive of Geisinger internally generated and Risant Health funds — for a minimum of 10 years following closing.