The acquisition of Temple Health’s ownership interest in the not-for-profit HMO Health Partners Plans by Jefferson Health has been completed. Jefferson’s acquisition of the HMO will assist bring value-based care to Southeastern Pennsylvania, according to the two organizations, both of which are based in Philadelphia.
- Statement: According to the statement, Health Partners Plans was previously owned by a collection of hospitals, including Temple Health, which held a 50 percent stake in ownership. In 2019, Temple and Jefferson agreed to sell their shareholding for $305 million. Mergers with Einstein Health Network and Aria Health added to the company’s ownership.
- Assurance: “With the addition of HPP to the Jefferson family, our ability to provide health assurance to everyone starting at their home takes a giant step forward,” said Stephen Klasko, MD, president of Thomas Jefferson University and CEO of Jefferson Health.
- Inequities: “Tackling health inequities and improving the health of our populations requires true coordination, and combining the resources of HPP with the expanding Jefferson provider base is a prescription for better health for people in our community”, said Stephen.
- Delivery: The move also creates an integrated delivery and financial system partnership between Jefferson and Health Partners Plans — the first in the region, according to the release. The acquisition aims to drive down healthcare costs for underserved communities in the greater Philadelphia area through its value-based care model.
- Mergers: Through prior mergers with Aria Health and, most recently, the Einstein Health Network, Jefferson was able to acquire the remaining 50% of HPP. Full ownership of HPP was designated a critical and significant strategic priority for the health system by the Thomas Jefferson University Board of Trustees, who unanimously authorized the purchase with Temple.