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Thomas Jefferson University has completed its acquisition of Lehigh Valley Health Network, forming a 30-hospital system based in Philadelphia that extends from South Jersey to the Scranton area. The agreement, which was announced in December, is expected to be finalized this summer pending regulatory approvals.

The CEOs of Jefferson and Lehigh Valley believe that this deal will enhance Jefferson’s health insurance business and improve the efficiency and quality of care provided. They emphasized that the goal is not to reduce costs, but to enhance the overall healthcare experience for their patients.

The combined organization will offer access to high-quality care, ongoing research and innovation, a network of specialists, clinical trials, and more to the communities they serve. With 65,000 employees and 700 locations, the combined systems are projected to generate $14 billion in revenue by fiscal 2023.

After the merger is complete, Joseph G. Cacchione will continue as CEO of Thomas Jefferson University, while Brian A. Nester will become the chief operating officer and president of legacy Lehigh Valley businesses. Baligh R. Yehia will take on the role of chief transformation officer for Jefferson and will also serve as president of the legacy Jefferson Health operations.

A number of Lehigh Valley Health Network board members will join the board of Thomas Jefferson University, ensuring that both institutions maintain representation and collaboration moving forward.

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