Washington, D.C.,-based Risant Health, a nonprofit, charitable organization founded by Kaiser Foundation Hospitals, recently purchased Danville-based Geisinger, a nonprofit health care system.
The purchase provides Geisinger with access to capital, technology and resources to improve its facilities and investment in patient care.
Risant Health is expanding the adoption of value-based care in diverse, multipayer, multiprovider, community-based health system environments. This is its first purchase, but it expects to acquire four or five more community-based health systems over the next four to five years.
“Through Risant Health, we will leverage our industry-leading expertise and innovation to increase the country’s access to high-quality and evidence-based health care, which we know improves care quality and the patient and member experience,” Greg A. Adams, Risant Health board chairman, said. “We will also learn and benefit from Geisinger and the additional health systems that become part of Risant Health in the future, to help them grow in new ways, be more affordable and bring value-based care to more people.”
Geisinger president and CEO Dr. Jaewon Ryu will become Risant Health CEO.
Dr. Terry Gilliland will become Geisinger president and CEO.
Geisinger is comprised of 13 hospital campuses, two research centers, a college of medicine and a nearly 600,000-member health plan.