Highmark to buy Pittsburgh health system
Insurer Highmark Inc said on Wednesday that it reached a deal to acquire a troubled Pittsburgh health care system while offering bondholders cash payouts of 87.5 cents on the dollar. The out-of-court restructuring agreement will cut West Penn Allegheny Health System's nearly $710 million of outstanding debt and inject cash into the system, likely averting a Chapter 11 bankruptcy filing, according to a statement by Highmark and a source familiar with the matter.
- Governors Push to Expand Role of PAs, Telemedicine
- 3 More Pioneer ACOs Say They Will Quit
- Telemetry Overuse Cost Health System $4.8 Million in One Year
- Why Open Payments Irks Physicians
- Ebola in the U.S.: Reason to Fear, to Hope, to Prepare
- IV Fluids Shortage Continues
- Difficult Patients: It's Not Them, It's You, Doctor
- Overcoming a Payer Mix 'Nightmare'
- Employee Engagement: Make It Meaningful
- Proton Beam Therapy Center Closure Illuminates Costs