A board made up of community representatives have voted to approve a move that would make Rockport, Maine-based Pen Bay Healthcare a subsidiary of Portland's MaineHealth, according to a report in MaineBiz.
According to the merger agreement, MaineHealth will provide Pen Bay with $3 million to set up an electronic health record and give the health system $25,000-$50,000 to make additional communications upgrades. Pen Bay will also receive a seat on the MaineHealth board of trustees and pay $675,000 in annual dues, according to the report.
State and Federal Trade Commission approvals are required before the merger is finalized.
Read the MaineBiz's report on the proposed Pen Bay-MaineHealth merger.