Karabots Foundation Gives $7.5 Million Gift To Einstein Medical Center Montgomery

NORRISTOWN — A $7.5 million gift from the Karabots Foundation and Nicholas and Athena Karabots to Einstein Healthcare Network (EHN) was delivered Wednesday afternoon during a gala celebration under a white tent erected on Powell Street next to the newly renamed Nicholas and Athena Karabots Medical Building.

More than 150 physicians, nurses and top managers from EHN and Einstein Medical Center Montgomery (EMCM) came to celebrate the gift that benefits three buildings in the healthcare system.

“The first phase was cosmetic improvements to the common areas of the building including new carpet, paint, new lighting and ceiling tiles,” said Rich Montalbano, the project executive at Einstein Healthcare Network. “That was completed this winter. The second and third phases will occur over the next two years and include replacing the outdated central air conditioning systems and replacing the two elevators.”

Read more: http://www.timesherald.com/general-news/20140521/karabots-foundation-gives-75-million-gift-to-einstein-medical-center-montgomery

Enhanced by Zemanta

Reading Hospital Joins Alliance With Six Others

The Reading Health System announced Wednesday that it has joined an alliance with six other health systems in Pennsylvania and New Jersey, a move officials say could lead to better and more affordable care for patients, improve hospital operations and reduce costs.

The alliance, AllSpire Health Partners, is not a merger, officials stressed.  Reading Hospital will remain locally governed and managed.

The seven health systems include a total of 25 hospitals with a service area of more than 6 million people.  The systems have a combined revenue of $10.5 billion, and AllSpire touts the partnership as the largest health care consortium in the country.

Read more: http://readingeagle.com/article.aspx?id=512676

West Penn Allegheny Cancels Highmark Affiliation Agreement

English: Highmark Place from PNC Park in Pitts...

English: Highmark Place from PNC Park in Pittsburgh, taken 2008 showing the new Highmark branding atop. (Photo credit: Wikipedia)

Saying that Highmark Inc. wanted it to restructure through bankruptcy, West Penn Allegheny Health System canceled the $475 million deal under which the insurer planned to acquire WPAHS.

WPAHS board chairman Jack Isherwood said in a written statement this morning that he considers bankruptcy a poor option for the health system’s employees and customers.

“To us, bankruptcy is not the first option, it’s the last option,” he said.

WPAHS is actively looking for new partners and is willing to consider all types of companies — another insurer, nonprofit, for-profit.

Senior management will remain in place, Mr. Isherwood said.