Penn State Board of Trustees approved a merger of Penn State Health and Pinnacle Health System Friday afternoon March 20th.
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From the agenda Item 10.
Proposed Approval of Penn State Health / Pinnacle Merger
Final approval is requested for a proposed transaction with Pinnacle Health System (”Pinnacle”) of Harrisburg, Pennsylvania, through which Pinnacle would become a part of Penn State Health and thereby become a component of a health enterprise including Saint Joseph’s Regional Health Network and Penn State Milton S. Hershey Medical Center. The Board of Trustees authorized the incorporation of Penn State Health for this purpose in September 2014. Terms and conditions of the Pinnacle transaction will be presented in detail to the Board of Trustees at an executive session of the Board. The Committee on Finance, Business and Capital Planning considered the proposed transaction at its meeting in January 2015 and recommended final approval by the Board of Trustees.
Will the Board of Trustees adopt the following resolutions:
RESOLVED, That the Board of Trustees approves the proposed transaction with Pinnacle Health System (“Pinnacle”) of Harrisburg, Pennsylvania, which will integrate Pinnacle as an affiliate of Penn State Health, upon the terms and conditions presented to the Board of Trustees and subject to all requisite regulatory approvals.
FURTHER BE IT RESOLVED, That the officers of the University and Penn State Health are authorized and directed to take such steps as are necessary to make effective this resolution.
Video of the Trustee meeting.
Penn State Health. Part 1.
The vote to approve. The merger.
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