CLARION – Clarion Healthcare System and Butler Health System say they have signed a definitive agreement to integrate CHS and its affiliates, including Clarion Hospital, into Butler Health System.
The two health systems announced the signing of a letter of intent in February, following the CHS board’s selection process. Since then, BHS and CHS have conducted extensive due diligence, according to a joint press release. Due diligence includes the study of each organization’s assets and liabilities, operations, and financial performance.
With due diligence substantially complete and the definitive agreement executed, the proposed transaction will now be sent to regulatory authorities for review and approval. These authorities include the state Office of Attorney General and Department of Health.
The press release stated that both systems believe that by combining their efforts, they can solidify the future of care in their communities, providing high quality, accessible, and affordable services. The proposed transaction will build upon the strengths of CHS and BHS. By working with BHS, CHS will be in a stronger position to make strategic investments in new programs, services and technology, all of which are important to keeping quality care close to home.
Clarion Healthcare System consists of four affiliates: Clarion Hospital, Health Services of Clarion Inc., Clarion Development Corp. Inc., and Clarion Hospital Foundation, all located in Clarion.
The hospital is a licensed 70-bed community hospital with a 24-hour emergency department., and includes an eight-bed inpatient rehab center, women’s health and birthing services, advanced wound healing hyperbaric center, sleep lab, ICU and a Cancer Center offering chemotherapy and radiation therapy.