Leaders from Kennedy Health and Jefferson Ink Final Merger Deal

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Sep 14, 2017, 16:53 ET

PHILADELPHIA and WASHINGTON TOWNSHIP, N.J., Sept. 14, 2017 /PRNewswire-USNewswire/ -- Stephen Klasko, MD, MBA, President and CEO of Thomas Jefferson University and Jefferson Health, and Joseph W. Devine, President and CEO of Kennedy Health, joined Jefferson board members for a ceremonial signing to celebrate the official merger of the two organizations. This milestone marks the first time that a Philadelphia health system has fully merged with a southern New Jersey health system.

The ceremonial signing marked the culmination of a process formally begun in January 2016 with the signing of a Letter of Intent to announce the planned integration between the two Delaware Valley health care organizations. A Definitive Agreement outlining terms of the proposed merger was signed in August 2016.

Unlike an acquisition, this partnership builds on Jefferson's innovative hub-and-hub model, where Kennedy Health will serve as the southern New Jersey core of Jefferson Health.

South Jersey residents will receive care from the same trusted physicians, nurses and staff, but also have access to Jefferson's advanced clinical services and promising clinical trials.

The boards of Jefferson and Kennedy unanimously approved the merger, which extends the shared governance model that was established with Abington, Aria and Jefferson. Kennedy will have equal representation on the expanded Jefferson board.

SOURCE Thomas Jefferson University