Risant Health has completed its previously announced acquisition of Geisinger, marking a significant step in its mission to enhance access to value-based care.
In 2023, Kaiser Permanente and Geisinger partnered to launch Risant Health.
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A definitive agreement was also signed for making Geisinger the first health system to join Risant Health.
This strategic move aims to create a new platform that will incorporate best practices, technology, tools and services for supporting community-based health systems.
The collaboration between Risant Health and Geisinger will leverage Kaiser Permanente’s expertise in integrated care and Geisinger’s experience in value-based care models. The acquisition brings together a broad network of providers and serves diverse communities.
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Jaewon Ryu will lead Risant Health as its first CEO, transitioning from his role as president and CEO of Geisinger since 2019. Terry Gilliland will take over as president and CEO of Geisinger following Dr Ryu’s move.
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By GlobalDataGeisinger will remain integral to Risant Health’s strategy and operations while continuing to operate under its own name and mission.
The company’s inclusion in Risant Health will enable it to enhance its 109-year commitment to serving both rural and urban communities in Pennsylvania, US.
The partnership will provide Geisinger with additional capital, technology, and resources to improve patient care, innovate, and expand its health plan offerings.
Risant Health board chair Greg Adams said: “Through Risant Health, we will leverage our industry-leading expertise and innovation to increase the country’s access to high-quality and evidence-based health care, which we know improves care quality and the patient and member experience.
“We will also learn and benefit from Geisinger and the additional health systems that become part of Risant Health in the future, to help them grow in new ways, be more affordable and bring value-based care to more people.”
Looking ahead, Risant Health’s investment in value-based care is expected to bolster Geisinger’s efforts to provide better health options and access to its high-quality clinical programmes and health management technology.
The acquisition of Geisinger Health by Risant Health was reviewed and received approval from the relevant federal and state agencies, with the transaction concluding on 31 March 2024.
