Penn Medicine finalizes acquisition of Princeton HealthCare
The Philadelphia-based University of Pennsylvania Health System completed its acquisition of Plainsboro, N.J.-based Princeton HealthCare System Jan. 9.
Under the acquisition agreement, PHCS and its affiliates will be rebranded Penn Medicine Princeton Health.
PCHS officials revealed their intent to solicit partners for a potential affiliation in June 2015. After evaluating 17 potential partners, PCHS signed a letter of intent with the five-hospital system Penn Medicine roughly one year later. Officials from both health systems approved the proposed transaction in December 2016.
This transaction indicates the continuing strength of the M&A markets in healthcare and life sciences transactions across the USA.
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