University of Pennsylvania Health System has officially acquired Princeton HealthCare System and its affiliates, including University Medical Center of Princeton, Princeton House Behavioral Health, Princeton HomeCare and the Princeton Medicine physician network, the systems announced. As part of this transaction, the names of PHCS and its affiliates will change and the system will be rebranded as Penn Medicine Princeton Health. The hospital's new name will be Penn Medicine Princeton Medical Center.
The acquisition extends Penn Medicine's reach into central New Jersey, and grows it staff by 3,000 employees and more than 1,000 physicians.
Officially revealed Tuesday after receiving all necessary regulatory approvals, the deal's official closing is a long time coming. PHCS announced in June 2015 that it was looking for partnership opportunities. Then in July of 2016 leaders executed a letter of intent with UPHS. The move to join Penn Medicine follows PHCS officials' consideration of 17 potential partners, the system said.
The University of Pennsylvania Health System includes five well-known hospitals in Pennsylvania as well as primary and specialty physician networks and outpatient facilities, home and hospice services. The system is part of Penn Medicine, along with the Raymond and Ruth Perelman School of Medicine.
The former Princeton HealthCare System is located about 40 miles north of Philadelphia and offers 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.