Fort Lauderdale, Fla.-based Americore Health signed two definitive agreements to manage and acquire Ellwood City (Pa.) Hospital, according to the Pittsburgh Post-Gazette.
The first agreement, effective immediately, named Americore Health the interim manager of the 104-year-old facility. The organizations also agreed to a second asset acquisition, which is pending regulatory approval.
Americore CEO Grant White told the Post-Gazette Tuesday the hospital will continue to function as an acute care facility, but will begin providing a number of additional services to create new streams of revenue. He did not disclose the terms of the deal or if hospital employees would be affected by the transaction, according to the report.
Carolyn Izzo, president and CEO of Ellwood City Hospital said they began their search for a potential partner last year. Ms. Izzo told the Post-Gazette the hospital board reviewed proposals from five interested parties before settling on Americore Health, according to the report.