Princeton HealthCare System to Join University of Pennsylvania Health System
Dec 12, 2016
PHILADELPHIA - The Executive Committee of the University of Pennsylvania Board of Trustees has approved plans for Princeton HealthCare System (PHCS) to become a part of the University of Pennsylvania Health System. The University's action follows an enthusiastic approval from the Penn Medicine Executive Committee and the Princeton HealthCare System Board. The agreement is contingent upon agreed upon closing conditions, including final approval by state and federal authorities which will be provided with extensive materials related to the proposed transaction.
Founded in 1919 and located 40 miles northeast of Philadelphia, Princeton HealthCare System is a 429-bed, integrated health care system that provides a wide range of inpatient and outpatient care, as well as behavioral health care and home care, to the residents of Central New Jersey. PHCS serves more than 1.3 million people in a growing area of the state. Its state-of-the-art hospital, University Medical Center of Princeton (UMCP), opened in 2012 and is located on a 171-acre health care campus in Plainsboro, New Jersey. PHCS has earned both regional and national accolades for high quality care: in U.S. News & World Report's first-ever Best Hospitals for Common Care ratings, published in 2015, UMCP was one of only 40 hospitals in the country designated as "high performing" in every category for which it was rated. In U.S. News' 2016-2017 Best Hospital rankings, UMCP was ranked among the top 20 hospitals in the entire New York metropolitan region. UMCP also earned an "A" in patient safety in the Fall 2016 Hospital Safety Grades published by The Leapfrog Group, a national nonprofit organization that works to improve the safety, quality and affordability of health care.
"We are proud of this exciting opportunity to combine Princeton HealthCare's strong reputation for providing excellent care in the community with Penn Medicine's strengths as a national leader in complex and specialty care," said Ralph W. Muller, CEO of the University of Pennsylvania Health System. "Aligning with PHCS will offer new opportunities for Penn Medicine to expand our services in New Jersey, and enable a mutually beneficial relationship for patients by uniting options for close-to-home care with coordinated access to Penn Medicine's world-class advanced medicine."
"Affiliating with the University of Pennsylvania Health System represents the best means of assuring that PHCS and its affiliates can continue to fulfill their mission and charitable objectives in the future," said PHCS President and CEO Barry S. Rabner. "When this partnership is finalized, members of our community will receive enhanced high-quality care right here, close to home, and they will enjoy the added benefit of easier access to the latest medical breakthroughs, clinical trials, cutting-edge technologies and specialized clinical expertise here and elsewhere in the Penn Medicine system."
"PHCS is an impressive organization which plays a crucial role in ensuring the health of New Jersey residents," said J. Larry Jameson, MD, PhD, dean of the Perelman School of Medicine and executive vice president of the University of Pennsylvania for the Health System. "We look forward to many new initiatives as we join together."
PHCS employs 2,997 staff and has an active medical staff of 1,099 physicians. Like each of Penn Medicine's hospitals, PHCS also shares a proud tradition of nursing excellence, having achieved Magnet status, the highest institutional recognition available for nursing excellence.
PHCS announced in June 2015 that it would begin evaluating partnership opportunities to ensure its continued success in the future and in July of 2016, executed a Letter of Intent with UPHS. The move to join Penn Medicine comes following PHCS officials' consideration of 17 potential partners.
Penn Medicine is one of the world's leading academic medical centers, dedicated to the related missions of medical education, biomedical research, and excellence in patient care. Penn Medicine consists of the Raymond and Ruth Perelman School of Medicine at the University of Pennsylvania (founded in 1765 as the nation's first medical school) and the University of Pennsylvania Health System, which together form a $5.3 billion enterprise.
The Perelman School of Medicine has been ranked among the top five medical schools in the United States for the past 18 years, according to U.S. News & World Report's survey of research-oriented medical schools. The School is consistently among the nation's top recipients of funding from the National Institutes of Health, with $373 million awarded in the 2015 fiscal year.
The University of Pennsylvania Health System's patient care facilities include: The Hospital of the University of Pennsylvania and Penn Presbyterian Medical Center -- which are recognized as one of the nation's top "Honor Roll" hospitals by U.S. News & World Report -- Chester County Hospital; Lancaster General Health; Penn Wissahickon Hospice; and Pennsylvania Hospital -- the nation's first hospital, founded in 1751. Additional affiliated inpatient care facilities and services throughout the Philadelphia region include Chestnut Hill Hospital and Good Shepherd Penn Partners, a partnership between Good Shepherd Rehabilitation Network and Penn Medicine.
Penn Medicine is committed to improving lives and health through a variety of community-based programs and activities. In fiscal year 2015, Penn Medicine provided $253.3 million to benefit our community.
About Princeton HealthCare System
Princeton HealthCare System is a comprehensive, integrated healthcare system that strives to anticipate and serve the lifelong needs of central New Jersey residents, including acute care hospital services through University Medical Center of Princeton, behavioral healthcare through Princeton House Behavioral Health, rehabilitation, home care, hospice care, ambulatory surgery, a primary and specialty medical practice, and fitness and wellness services. For more information, visit www.princetonhcs.org.