East Stroudsburg, Pa.-based Pocono Health System and Lehigh Valley Health Network in Allentown, Pa., have signed an agreement for a full-asset merger.
Here are four things to know about the deal.
1. In May, the two organizations signed a letter of intent to merge, and the Pocono Health System board of directors and the Lehigh Valley Health Network board of trustees authorized the a merger agreement this month.
2. Pocono Health System and Lehigh Valley Health Network have a long history of working together in certain clinical areas, and the merger builds on that relationship. The two organizations have previously worked together on a number of initiatives, including the creation of a trauma center.
3. The merger, which still requires regulatory approval, is expected to take effect in the first half of 2016.
4. Pocono Health System President and CEO Jeff Snyder showed excitement about the opportunities the deal will provide to the community. "It will bring continued growth and expansion in healthcare services for Poconos residents, providing them greater access to the highest-quality clinical care, the most sophisticated technology and advanced health records systems, and the largest and most experienced physician network in the area," he said.
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