INDEPENDENCE HEALTH SYSTEM ANNOUNCES PLANS TO MERGE WITH WVU HEALTH SYSTEM

Independence Health System has announced plans to merge with the West Virginia University Health System.  The Trib reports that the agreement includes an $800 million commitment from the WVU system over five years to help the five Independence hospitals and their affiliated physician groups.   The investment is earmarked for modernization projects, including approximately $500 million toward physical upgrades on the Westmoreland Hospital campus.  Independence officials say each community hospital will retain its local identity.  The merger is subject to state and federal regulatory reviews and bondholder consent. Officials expect negotiations to finalize the merger by June 1, with the deal closed by the end of next September.