Oakland, Calif.-based Kaiser Permanente has inked a deal to acquire Geisinger Health and its more than 1,700 physicians.
Here's what ASCs need to know:
- Through the deal, Danford, Pa.-based Geisinger will be the first to join Risant Health, a new nonprofit organization created by the Kaiser Foundation Hospitals.
- Risant Health, which will operate separately from Kaiser's coverage model, aims to expand the adoption of value-based care in multi-payer and multi-provider health system environments.
- Health systems that join Risant Health will continue to operate as regional health systems, but through Risant's value-based platform.
- The deal, which still awaits regulatory approval, is not structured as a traditional purchase, but Kaiser is expected to provide about $5 billion in funding for Risant Health, The Wall Street Journal reported April 26.
- Geisinger will maintain its name and mission, and Geisinger President and CEO Jaewon Ryu, MD, will become CEO of Risant Health once the transaction closes.