AtlantiCare is officially out from under the umbrella of Geisinger, taking with it one-quarter of the health system’s discharges. Monday’s news comes after Geisinger agreed in March to drop its legal challenge to AtlantiCare’s departure because the two sides had reached a deal. At the time, the systems said it would still take up to 18 months to finalize the transaction, a process that ultimately took just seven months. The agreement the systems reached in March required AtlantiCare to repay or refinance all of the outstanding debt Geisinger had lent AtlantiCare and that Geisinger had borrowed on AtlantiCare’s behalf as of the deal’s close, according to a bond document. That debt stood at $227 million as of March 31.
Read the full article: Geisinger, AtlantiCare Split is Official //
Source: https://www.modernhealthcare.com/providers/geisinger-atlanticare-split-official