St. Luke’s University Health Network has agreed to acquire Easton Hospital, including affiliated physician practices and two physician residency programmes.
Financial terms of the deal were not disclosed.
Scheduled for 1 July 2020, the acquisition is expected to preserve the hospital, which was established 125 years ago, and bring St. Luke’s healthcare to the Easton area.
Steward Health Care owned the hospital since May 2017 and will transfer the ownership to St. Luke’s University Health Network.
St. Luke’s is a regional health network and medical academic centre operating 11 hospitals and more than 325 outpatient sites.
St. Luke’s University Health Network president and CEO Richard Anderson said: “Over the years, St. Luke’s management team has established a highly successful record of working collaboratively and forming successful partnerships with other hospitals that have joined our network.
“St. Luke’s will replicate at Easton Hospital the success it has achieved at its other campuses, resulting in a ‘win-win-win’ for all. The community wins. Easton Hospital wins. Our Network wins.”
Approximately 20 years ago in 2001, St. Luke’s and the hospital first discussed potential merger. However, Easton Hospital’s board of trustees sold the hospital to Community Health Systems, which later divested it to Steward in 2017.
Easton Hospital president Linda Grass said: “Steward entered into this asset purchase agreement with the long-term interests of Easton Hospital, its patients and the community in mind.
“This collaboration will ensure that Easton-area residents will continue to receive the quality, compassionate care that has been the mainstay of Easton Hospital for over 125 years.”
St. Luke’s board of trustees have approved the acquisition, which is subject to certain closing conditions, including regulatory approvals.