Brentwood, Tenn.-based Duke LifePoint Healthcare has completed its acquisition of Conemaugh Health System in Johnstown, Pa.
Duke and Conemaugh originally signed a letter of intent in March and reached a definitive agreement last month. Under the agreement, Duke LifePoint — a joint venture between nonprofit Duke University Health System in Durham, N.C., and for-profit LifePoint Hospitals — will invest $425 million in Conemaugh's facilities during the next decade. Duke also offered employment to all Conemaugh employees and will establish a local board of trustees consisting of local community members, physicians and a Duke representative. Duke will also maintain all of Conemaugh's core services and provide resources to expand and enhance those services, according to the two systems.
"Duke LifePoint has demonstrated its commitment to our employees, physicians and patients, and its dedication to the highest standards of quality care and patient safety," said Scott A. Becker, CEO of Conemaugh. "Its leaders are committed to collaborating with us to expand and enhance healthcare and strengthen Conemaugh Health System and our communities. This acquisition will contribute significantly to the health and prosperity of this region."