This announcement is a significant milestone in PHCS’s ongoing strategic planning process. PHCS Trustees, physicians, management team, and external advisers were all involved in the process, which included the evaluation of 17 potential partners. The PHCS Board of Trustees selected Penn Medicine after a year-long review that considered long-term changes in the healthcare industry along with the benefits and challenges of partnering or remaining independent. Due diligence is under way, and when the parties reach a definitive, binding agreement—likely in late 2016—the necessary documents will be submitted to state and federal regulatory bodies for review. The governmental approval process may take up to one year.
This partnership is intended to build upon the things we do well and to expand our capabilities. The PHCS Foundation is excited to embark on the expansion and improved access to services and fundraising opportunities that will come with the partnership. It is an exciting time for PHCS and the central New Jersey community that we serve.
PHCS has received very favorable reactions from patients, physicians, employees, and elected officials throughout our service area. We hope that you will join in this enthusiasm.
What does this mean to you?
- Our philanthropic supporters can rest assured that all locally raised funds will remain in our community, unless you direct us otherwise. A need will always remain for support to fund new programs, equipment, education, and more, to help promote the highest quality of care and service that you have come to rely on at PHCS.
- The University Medical Center of Princeton, Princeton House Behavioral Health, and Princeton HomeCare will remain critical resources in the communities that we have served so faithfully for nearly a century.
- Many services provided at PHCS are also provided through
Penn Medicine, so PHCS staff and physicians will benefit from the sharing of knowledge and capabilities. Our patients can expect superior access to the latest medical breakthroughs, clinical trials, cutting-edge technologies, and more specialized expertise here in central New Jersey and throughout the Penn Medicine System.
Pictured above (left to right): Peter Quinn, DMD, MD, Senior VP, and Vice Dean, Professional Services, University of Pennsylvania Health System; Thomas Beeman, PhD, Chief Operating Officer, Regional Operations, University of Pennsylvania Health System; Philip Okala, Senior VP, Business Development, University of Pennsylvania Health System; Barry S. Rabner, President and CEO, Princeton HealthCare System; and Donald F. Denny, Jr., MD, Senior VP for Medical Affairs, Princeton HealthCare System.
Article as seen Foundation News Fall/Winter 2016.