Aria Health Joins Jefferson
Aria Health, a three-hospital integrated health system in northeast Philadelphia and Lower Bucks County, has joined Jefferson, Philadelphia and southern New Jersey’s rapidly-growing clinical and academic health system. As part of the partnership, Jefferson will invest in information technology, outpatient services, and physician alignment for Aria. Aria will also become a regional referral site and an epicenter for new clinical program development at Jefferson. Uniquely, Aria will gain equal representation on Jefferson’s parent board which includes members from the legacy boards of Jefferson, Abington Health, and Aria.
Juniper was engaged by the Aria Health Board of Directors to advise the system in seeking a potential partner that could best meet the long-term strategic goals of the organization and the needs of the communities it serves. Juniper executed a rigorous competitive process which elicited a wide range of potential partners and structures. This process included drafting information materials, conducting intensive reverse due diligence between the parties, and negotiating the terms of the agreement. In addition to the Board, a steering committee task force and a physician committee were also formed to help evaluate the benefits proposed by each potential partner. As part of the transaction team, Juniper assisted Aria and its counsel through the completion of confirmatory due diligence, the signing of a definitive agreement, and the receipt of all requisite regulatory approvals.
Aria is a three-hospital nonprofit health system and the largest healthcare provider in northeast Philadelphia and Lower Bucks County. Along with three modern inpatient facilities, Aria has a growing network of outpatient centers and physician practices. With 485 licensed beds across the system, Aria employs nearly 4,000, has a medical staff membership of more than 1,000, and is an important economic engine for the communities that it serves.
Jefferson is a clinical and academic health enterprise which includes Thomas Jefferson University and Jefferson Health, a rapidly-growing, eight-hospital health system with 32 outpatient and urgent care locations and a multitude of physician practices. Jefferson’s network covers the city and suburbs of Philadelphia, Montgomery and Bucks Counties in Pennsylvania, and southern New Jersey. The system’s flagship, Thomas Jefferson University Hospital, is the largest freestanding academic medical center in Philadelphia. Jefferson is comprised of 23,000 employees and serves more than 96,000 inpatients, 363,000 emergency patients, and 1.9M outpatient visits annually. Aria joins Jefferson on the heels of Jefferson’s merger with Abington Health in May 2015. Other recently announced transactions include Kennedy Health, a three-hospital system in New Jersey which signed a letter of intent with Jefferson in January 2016, and Philadelphia University, announced in December 2015.
For additional details, please refer to the press release.