Pittsburgh-based Highmark's relationship with its runaway acquisition, West Penn Allegheny Health System, may be on the mend. Yesterday, the West Penn's board chair said he would like to resume talks as soon as possible, according to a Pittsburgh Post-Gazette report.
West Penn put the kibosh on Highmark's plan to acquire the health system 13 days ago, saying the insurer breached the affiliation agreement when it proposed West Penn file for Chapter 11 bankruptcy to lower its price tag.
A West Penn spokesperson said the system's board chairman Jack Isherwood and Highmark President and CEO William Winkenwerder, MD, shared a "cordial" phone call yesterday, according to the report. Mr. Isherwood said he would like to resume negotiations as soon as possible, and Dr. Winkenwerder also said he wanted to keep lines of communication open, according to the report.
West Penn board member Paul Dimmick said he is eager to resume negotiations with Highmark, but the payor must "come with a different plan that addresses our concerns and their concerns, because what they have proposed is unacceptable," according to the report.
Before last night's meeting, West Penn board members said the two sides had little exchange, according to the report. Highmark remains hopeful, however: The payor said it continues to believe the affiliation agreement with West Penn remains in place, according to a statement released yesterday.
With West Penn Deal on the Rocks, Will Highmark Return to the Drawing Board?
Did Highmark's Firing of CEO Dr. Ken Melani Prompt Problems With West Penn?
West Penn put the kibosh on Highmark's plan to acquire the health system 13 days ago, saying the insurer breached the affiliation agreement when it proposed West Penn file for Chapter 11 bankruptcy to lower its price tag.
A West Penn spokesperson said the system's board chairman Jack Isherwood and Highmark President and CEO William Winkenwerder, MD, shared a "cordial" phone call yesterday, according to the report. Mr. Isherwood said he would like to resume negotiations as soon as possible, and Dr. Winkenwerder also said he wanted to keep lines of communication open, according to the report.
West Penn board member Paul Dimmick said he is eager to resume negotiations with Highmark, but the payor must "come with a different plan that addresses our concerns and their concerns, because what they have proposed is unacceptable," according to the report.
Before last night's meeting, West Penn board members said the two sides had little exchange, according to the report. Highmark remains hopeful, however: The payor said it continues to believe the affiliation agreement with West Penn remains in place, according to a statement released yesterday.
More Articles on West Penn Allegheny Health System and Highmark:
Highmark Wants Restraining Order to Keep West Penn From Other SuitorsWith West Penn Deal on the Rocks, Will Highmark Return to the Drawing Board?
Did Highmark's Firing of CEO Dr. Ken Melani Prompt Problems With West Penn?