Kaufman Hall Advises PinnacleHealth on Expansion of Acute Care Network
Kaufman Hall served as exclusive financial advisor to PinnacleHealth System on the Acquisition
SKOKIE, Ill. – March 21, 2017 – Kaufman Hall is serving as exclusive financial advisor to PinnacleHealth System on the acquisition of four central Pennsylvania acute care hospitals from Community Health Systems. The two parties have reached a definitive agreement, and the transaction is expected to close in the summer of 2017.
PinnacleHealth System is a leading provider of inpatient and outpatient healthcare services in central Pennsylvania with 3 acute care hospitals, totaling 656 beds and $1.1 billion in net revenues. Of the 5,200 full time employees, more than 1,250 are physicians and allied health professionals.
The four CHS hospitals that will become part of the PinnacleHealth integrated not-for-profit healthcare system are:
- Carlisle Regional Medical Center located in Carlisle, PA (165 beds)
- Heart of Lancaster Regional Medical Center located in Lititz, PA (148 beds)
- Lancaster Regional Medical Center located in Lancaster, PA (214 beds)
- Memorial Hospital located in York, PA (100 beds)
“We are excited to bring these quality hospitals, their employees and physicians into the PinnacleHealth family,” said Phil Guarneschelli, president and CEO. “Together we will build on and strengthen their history of quality and success, and we look forward to continuing strong, collaborative relationships with employed and partnering physicians.
“Local employers and the business community want great quality care at affordable pricing for employees and their families, and we’re acting to meet that request. We believe exceptional, cost-effective healthcare should be part of every community,” he added.
As the exclusive financial advisor to PinnacleHealth, Kaufman Hall led the acquisition process to ensure that the system’s goals and objectives are achieved. As a part of this process, Kaufman Hall assisted the PinnacleHealth management team with the financial evaluation of the assets to be acquired, the identification of financing alternatives, and the structuring and negotiating of the transaction with CHS.