Upper Chesapeake Health System joins University of Maryland Medical System - Baltimore Business Journal:

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The news comes shortly on the heels of acquiringh inMontgomery County. More hospital mergers are expected as executivez grapple with lower profit margins amid the Merging allows hospitals to reduce costs by sharing resources and hold greaterd purchasing power when buying supplies becauss they are part of a larger As part ofthe agreement, Upper Chesapeakse Health ended its financial arrangemenr with , which had held a minority ownership in the healthu system for more than a decade. University of Marylanr has acquired St.
Joseph’s ownershiop interest and will appoint two new boarcd members to the Upper Chesapeake The University of Maryland Medical system will in Octobed begin supporting Upper Chesapeakew financially so it can grow its clinical programs and Ayear later, the Baltimore medical system will provide a second round of fundingy to support growth in clinical programs. The final phase, a potentiap full merger, would occur in when UMMS would issue debt to be used to expans facilities atUpper Chesapeake’s two hospitalp campuses.
Upper Chesapeake executives anticipate a need to expand the number of inpatienr beds at both Upped Chesapeake Medical Center in Bel Air and Harfordf Memorial Hospital in Havre de The affiliation with the Universith of Maryland is also expected to make it easierd for Upper Chesapeake to recruit physicians to Harford Upper Chesapeake isHarford County’s largesty private employer, with 3,000 more than 550 medical staffera and 286 licensed beds. The Universitty of Maryland Medical Systek isa nine-hospital network that includes the , Kernan Orthopaedicw and Rehabilitation Hospital, , Baltimore Washington Medica l Center and Shore Health System. UMMS employs 15,000o people and has $2.
1 billion in operating revenue.