Princeton HealthCare System and its affiliates, including the University Medical Center of Princeton, Princeton House Behavioral Health, Princeton HomeCare and the Princeton Medicine physician network, are now part of the University of Pennsylvania Health System, one of the world’s leading academic medical centers.
Leaders of both hospital systems announced the transaction today after receiving all necessary regulatory approvals. The partnership plan was first announced in December 2016.
As part of this transaction, the names of Princeton HealthCare System and its affiliates will change. The system will now be known as Penn Medicine Princeton Health. The hospital’s new name is Penn Medicine Princeton Medical Center.
“The joining together of Princeton HealthCare System and Penn Medicine represents an exciting new chapter in Penn Medicine’s growth. PHCS has an impressive reputation for providing high-quality care to patients close to home, and innovating in many types of community-based health and wellness initiatives,” said Ralph Muller, CEO of the University of Pennsylvania Health System. “Now, we can offer a powerful partnership to patients throughout the region PHCS serves, continuing the services they already depend on, coupled with access to world-class care for complex conditions and innovative clinical trials available at Penn Medicine.”
The University of Pennsylvania Health System includes five hospitals in Pennsylvania, as well as primary and specialty physician networks and outpatient facilities, home and hospice services.
“This is a significant day in our history, and we look forward to being an even stronger organization, clinically and financially, as we continue to fulfill our almost century-old mission of serving this community,” said Princeton HealthCare System President and CEO Barry Rabner. “We could not ask for a better partner than Penn Medicine. Members of our community will continue to receive high-quality care right here, close to home. They also will benefit from easier access to the latest medical breakthroughs, clinical trials, cutting-edge technologies and specialized clinical expertise — both here and elsewhere in the Penn Medicine system.”
Princeton HealthCare System, founded in 1919, provides a wide range of inpatient and outpatient hospital care, behavioral health and addiction services, rehabilitation, in-home nursing, hospice care and fitness and wellness services to more than 1.3 million people in Central New Jersey. Princeton HealthCare employs about 3,000 staff members and has an active medical staff of nearly 1,300 physicians.
Leaders of Princeton HealthCare System announced in June of 2015 that they would begin evaluating partnership opportunities. Seventeen partners were considered. In July of 2016, Princeton HealthCare signed a letter of Intent with the University of Pennsylvania Health System.
“Our Trustees engaged community members, physicians and employees in a thorough, two-year process to evaluate and select a partner,” said Kim Pimley, Chairman, Princeton HealthCare System Board of Trustees. “In Penn Medicine, we found a partner that shares our values. Together, we can make world-class care more accessible to the people in the communities we serve. We are delighted to begin a shared future with Penn Medicine.”