Highmark aired a TV ad saying it would lose thousands of jobs if UPMC doesn't sign a contract to join the insurer's provider network, and Pennsylvania officials are questioning the claim.
Highmark can forge ahead with its planned purchase of West Penn Allegheny Health System--which it intends to use as the foundation of a new integrated health network to compete against rival UPMC--thanks to approval from the Pennsylvania Insurance Department.
Highmark has found a way to continue with its acquisition of West Penn Allegheny Health System while preventing the hospital from going into bankruptcy.
Highmark has won a victory in its on-again, off-again $475 million acquisition of West Penn Allegheny Health System after a state court ruled that WPAHS couldn't seek other potential buyers.
West Penn Allegheny Health System has countersued Highmark in response to the insurer's attempt to block the health system from seeking other buyers, reported the Central Penn Business Journal.
Highmark is affiliating with Erie, Pa.-based Saint Vincent Health System, showing that the insurer's recent tangles with West Penn Allegheny Health System aren't thwarting its plans to build a dominant health delivery network to compete against UPMC.
Four prominent orthopaedic surgeons will join UPMC in January, bringing the number of specialists who left West Penn for rival UPMC in the past two months up to eight.
Only a few weeks after West Penn Allegheny Health System canceled its agreement with Highmark, executives from both companies spoke to each other, potentially opening the door to resume the planned merger.
After West Penn Allegheny Health System canceled its deal to be purchased by Highmark last week, Highmark filed a lawsuit to prevent the health system from engaging in new acquisition discussions with other potential buyers.
Highmark's $475 million acquisition of West Penn Allegheny Health System has been canceled.