UPMC Susquehanna, a health system recently acquired by University of Pittsburgh Medical Center, will be expanding its portfolio when it nabs two Pennsylvania hospitals from Quorum Health Corp. for an undisclosed sum. The deal is expected to close by the end of September.
The 70-bed Sunbury Community Hospital in Sunbury, and the 47-bed Lock Haven Hospital in Lock Haven, will become the newest additions to UPMC Susquehanna's roster, which includes hospitals in the north-central Pennsylvania towns of Wellsboro, Williamsport and Muncy.
Steven P. Johnson, president of UPMC Susquehanna, said in a statement that the acquisition will allow the system to reinvest in both facilities "to improve access, enhance care, and grow existing services."
Quorum., which was spun off from struggling hospital operator Community Health Systems last year, posted a net loss of $22 million in the first quarter of this year. The company said it will continue to focus on divesting "non-performing assets," and expects net operating revenues by the end of this year to total between $2.05 billion and $2.1 billion.
As of March 31, 2017, Quorum owned or leased 35 hospitals in rural and mid-sized markets located across 16 states, totaling 3,399 beds. Its main business focus is providing general hospital healthcare, but also provides additional outpatient services at urgent care centers, imaging centers and surgery centers. The company also has under its umbrella Quorum Health Resources, a management advisory and consulting group.