Huntingdon, PA (7/25/18) - After months of hard work and negotiations, the Strategic Partnership Committee of the J.C. Blair Health System Board of Directors is pleased to announce that it has executed a Letter of Intent (LOI) with Post Acute Medical, LLC that enables the two health systems to work together to finalize a formal partnership agreement.
This important decision has required an immense amount time and dedication to careful planning and analysis of several potential partnership options by the Board Committee, with the ultimate goal of securing the future of high quality healthcare for the hospital and residents of Huntingdon County and surrounding communities.
This process began in February, when the Strategic Partnership Committee established the following objectives for a possible strategic partnership with a larger health system. Each of the proposals was thoroughly evaluated using these objectives:
- Continue the Mission, Vision and Values of J.C. Blair Health System
- Maintain and Expand Key Programs & Services
- Attract and Retain High-Quality Physicians in a Wide Range of Specialties
- Preserve Jobs in Huntingdon County, Provide Competitive Wages, Benefits, and Retirement Plans
- Provide the Necessary Capital to Support Quality and Growth
- Maintain a Meaningful Role in Local Governance
“This decision is a key milestone in this process and we are pleased to share this exciting news with our patients, physicians, employees, and the community,” said J.C. Blair Board Chair Fred Price. “At the same time, a great deal of work lies ahead for both J.C. Blair and Post Acute Medical. We believe Post Acute Medical presented the best option for the future of the hospital.”
Anthony Misitano, CEO of Post Acute Medical, stated that “we look forward to continuing our discussions with J.C. Blair. This non-binding letter of intent allows us to further evaluate the hospital and its operations, and to work toward a final transaction, subject to legal and regulatory hurdles.”
Over the next several months, leaders from both organizations will enter into a period of exclusive negotiations to finalize the terms of the partnership.
“We appreciate your patience while we worked through the last critical details of the LOI and look forward to sharing information as the details of the partnership agreement are confirmed,” said Joe Myers, Executive Vice President for J.C. Blair Health System, Inc. “We owe a debt of gratitude to the Committee and Board for their dedication and thoughtful decision making throughout this process.”
The goal is to execute a new partnership agreement by September 30, 2018, when the PinnacleHealth affiliation with J.C. Blair Health System expires.