Altoona hospital system considering bids from UPMC, Highmark, Geisinger
Three of Pennsylvania's biggest health care companies are in competition for Altoona Regional Health System, a 380-bed nonprofit hospital operator.
The system has discussed the possibility of being acquired by UPMC, Highmark Inc. and Geisinger Health System, said David Cuzzolina, a spokesman for Altoona Regional.
“We invited potential partners to share their visions of the future of health care in Pennsylvania,” Cuzzolina said. “In any partnership ... it's important that we are able to grow and offer more medical services locally.”
Altoona Regional's board, which is in discussions to partner with the 44-bed Nason Hospital in Altoona, has set no deadline for deciding on whether to pursue an agreement with UPMC, Highmark or Geisinger.
Cuzzolina said the three organizations are the only ones that provided presentations to Altoona Regional's board on a possible partnership.
UPMC, the largest hospital system in Western Pennsylvania with 19 hospitals, has acquired hospitals outside of Pittsburgh, including UPMC Hamot in Erie, UPMC Northwest in Seneca, and UPMC Bedford, but it does not own anything in Altoona.
UPMC spokesman Paul Wood declined to comment.
Highmark, the state's largest health insurance company, is creating a $1 billion health system to compete with UPMC. It has announced acquisition deals with West Penn Allegheny Health System, St. Vincent Health System in Erie and Jefferson Regional Medical Center in Jefferson Hills.
Highmark spokesman Michael Weinstein declined to comment on Altoona Regional, only saying, “We have been talking with physicians and community hospitals throughout the region to identify health care providers that share Highmark's vision of transforming health care and improving quality and coordination of care for patients.”
Geisinger, an eight-hospital health system and health insurer based in Danville, is interested in expanding the services it offers in and around Altoona, spokeswoman Sue Baranik said.
“We did have a meeting with Altoona Regional and did present to their board,” Baranik said. “We don't know when Altoona Regional will make that decision.”
Altoona Regional posted income from operations of $6.4 million for the 12 months ended June 30, Cuzzolina said. It expects to release full financial results by the end of the year.
In the prior year, the system lost $14.7 million from operations, according to financial statements. It had long-term debt of $81.8 million and pension liability of $40 million as of Dec. 31.
Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or firstname.lastname@example.org.
Add Alex Nixon to your Google+ circles.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- EDMC to close quarter of its Art Institute campuses, but Pittsburgh’s spared
- Stocks fall on weak jobs data, inflation worries, Yellen comments
- Weavertown Environmental’s female CEO doesn’t think in terms of gender
- Mylan to take buyout bid to Perrigo shareholders
- Meadows Casino, Tanger Outlets seek to hire hundreds in Washington County
- Kennametal posts loss on restructuring, lower sales
- Relocation of U.S. Steel headquarters still on despite downturn
- CEO takes the blame as sales continue to fall at vitamin retailer GNC
- Project to remedy Rostraver coal refuse slurry ponds beside popular trail
- Surge in billionaires stokes luxury housing market
- Continued education for therapists key to TEIS success