Cincinnati-based Catholic Health Partners has reached a tentative agreement to acquire Kaiser Foundation Health Plan of Ohio and its related multispecialty physician group, Ohio Permanente Medical Group.
Under the deal, CHP will own the health plan and physician group, which cares for more than 80,000 Kaiser patients in northeast Ohio. CHP will give a new name to the integrated organization, which is intended to help with accountability and quality goals under healthcare reform.
Financial terms of the agreement were not disclosed, and the deal still requires regulatory approval. CHP and Kaiser expect the deal will be completed in the next few months.
The announcement follows CHP's February decision to create a strategic partnership with Akron, Ohio-based Summa Health System. Under the deal, Summa Health will retain majority ownership and local control of its facilities, and CHP will become a minority owner, though its stake in Summa Health was undisclosed.
Under the deal, CHP will own the health plan and physician group, which cares for more than 80,000 Kaiser patients in northeast Ohio. CHP will give a new name to the integrated organization, which is intended to help with accountability and quality goals under healthcare reform.
Financial terms of the agreement were not disclosed, and the deal still requires regulatory approval. CHP and Kaiser expect the deal will be completed in the next few months.
The announcement follows CHP's February decision to create a strategic partnership with Akron, Ohio-based Summa Health System. Under the deal, Summa Health will retain majority ownership and local control of its facilities, and CHP will become a minority owner, though its stake in Summa Health was undisclosed.
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