Beth Israel Deaconess Medical Center in Boston and Jordan Health Systems, parent company of Jordan Hospital in Plymouth, Mass., have signed a definitive agreement to combine their organizations.
BIDMC and Jordan announced a potential deal in January and have since completed due diligence. Under the deal, Jordan will become part of the BIDMC system, making BIDMC the sole corporate entity. BIDMC has a similar structure for its hospitals in Milton, Mass., and Needham, Mass.
The transaction will now need state and federal approval. The Massachusetts Health Policy Commission will conduct a "cost and market impact review" to determine if the deal keeps healthcare costs in check.
According to the news release, Jordan Hospital will likely change its name based on a market research study. The release did not indicate if there would be layoffs associated with the merger.
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