WEST READING, Pennsylvania – Tower Well being is taking steps into the long run.
The well being care system introduced Friday that it plans to hunt a “strategic alliance” with Penn Medication, to work collectively to develop applications and initiatives in every impartial group.
Tower Well being’s board of administrators signed a letter of intent to start the method of growing an alignment mannequin, in keeping with a press launch.
A committee equitably represented by Tower Well being and Penn Medication will assess potential areas of collaboration over the subsequent 6 months, Tower Well being stated. He does not plan to publish extra particulars till after that course of.
The board says the choice follows a months-long course of to think about choices for a method ahead, as Tower Well being was in monetary hassle and there have been ongoing questions on its future.
“Amongst our standards for contemplating a strategic alliance as a potential method ahead, the Board wished to discover a appropriate healthcare system that shares our patient-centered values and represents a possibility not solely to stabilize, but additionally to strengthen the care we offer. Tom stated. Work, Chairman of the Tower Well being Board of Administrators, within the press launch.
Tower Well being additionally stated it has seen a optimistic monetary turnaround since March as operational enhancements have taken maintain and affected person volumes have returned to pre-pandemic ranges.
The board emphasised that the alliance shouldn’t be a merger and that each Tower Well being and Penn Medication will stay impartial.