JOHNSTOWN, Pa. (AP) - The $536 million deal for Tennessee-based Duke LifePoint Healthcare to acquire western Pennsylvania's Conemaugh Health System has been completed.
Both health systems announced Tuesday that the deal had closed.
Duke LifePoint is paying $111 million for Conemaugh by erasing its debt and pumping $70 million into its charitable foundation. LifePoint has also agreed to invest $425 million more on capital improvements, including new facilities in Richland Township, near Johnstown, and Ebensburg, over the next decade.
Conemaugh runs hospitals in Johnstown, Hastings and Meyersdale, as well as outpatient centers and group practices. Duke LifePoint Healthcare is a for-profit joint venture of Duke University Health System, Inc. and LifePoint Hospitals.
The deal received final regulatory approval in Pennsylvania last month. No layoffs are planned.
Duke LifePoint operates 60 hospital campuses in 20 states.
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