Ohio Valley Hospital and Heritage Valley Health System Sign Affiliation Letter of Intent
The press release below was issued by Ohio Valley Hospital.
The Boards of Directors of Ohio Valley Hospital and Heritage Valley Health System have signed a letter of intent for Ohio Valley Hospital to join the Heritage Valley Health System. The two not-for-profit healthcare institutions know and respect one another, with each sharing the common mission of bringing cost-effective, high-quality care to their respective communities. By joining together, the organizations can further enhance this mission and best meet the healthcare needs of the region.
Over the past eight months, the Board of Directors of Ohio Valley Hospital has pursued a disciplined process that considered a range of strategic options and partners. Ultimately, the Board of Directors unanimously chose Heritage Valley Health System. “We are affiliating with an organization that we highly respect and trust,” said David W. Scott, President and CEO of Ohio Valley Hospital. “When the decision was made by our Board of Directors to affiliate, Heritage Valley was the clear choice.”
The alignment will enable Ohio Valley Hospital to enhance its medical staff, expand clinical services and fund future capital projects. Ohio Valley Hospital, like many independent community hospitals, has been challenged over past years by increasing operating costs and decreasing reimbursement. “Our priority has always been, and will continue to be, to provide quality healthcare for our community members here at Ohio Valley Hospital,” said Scott. “Affiliating with Heritage Valley Health System will allow us to do just that.”
“Heritage Valley is very pleased and honored to be selected as Ohio Valley Hospital’s preferred partner,” said Norm Mitry, President and CEO of Heritage Valley Health System. “Our Board of Directors unanimously supported the affiliation, and identical to Ohio Valley Hospital’s Board, remains committed to high quality, locally accessible community healthcare.”
Ohio Valley Hospital and Heritage Valley Health System have now entered into a due diligence period and will work toward a definitive agreement, which is expected to be executed in the fall of 2018 with regulatory approvals to be sought thereafter.
For more information, please contact Megan Hinds, Ohio Valley Hospital Director of Marketing and Communications, at 412-777-6365 or firstname.lastname@example.org.
About Ohio Valley Hospital
Ohio Valley Hospital is a 124-bed, not-for-profit hospital, with more than 250 physicians in 26 medical specialties and a full range of advanced diagnostic tools and treatments. First established in the 1890s as a place to treat railroad workers, Ohio Valley Hospital now features a wide range of medical and surgical services. Today, it is Ohio Valley Hospital’s mission to provide programs and services that improve the quality of life of community members across its service area. The staff strives to provide caring, cost-effective and friendly health care, and views safety and quality as top priorities. For more information about Ohio Valley Hospital, please visit www.ohiovalleyhospital.org.
About Heritage Valley Health System
Heritage Valley Health System is a $480 million integrated delivery network providing comprehensive health care for residents of Allegheny, Beaver, Butler and Lawrence counties in Pennsylvania; eastern Ohio; and the panhandle of West Virginia. In partnership with 3,500 employees and more than 480 physicians, Heritage Valley offers a broad range of medical, surgical and diagnostic services at its two hospitals, Heritage Valley Sewickley and Heritage Valley Beaver; in 60 physician offices; and 18 community satellite facilities. For more information about Heritage Valley Health System, please visit www.heritagevalley.org.