(WHMT) — The District of Columbia-based Risant Health announced they have completed their acquisition of the Pennsylvania-based healthcare system Geisinger.

Risant Health says that together, the two organizations have created a new value-based care platform that will include the best practices, tools, technology, and services.

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Risant Health says its goal is to “expand and accelerate the adoption of value-based care in diverse, multipayer, multi-provider, community-based health system environments and improve the health of millions of people in communities across the country”

Upon the closing of this recent acquisition, Jaewon Ryu, M.D., J.D., who previously served as Geisinger’s president and CEO, will become the first CEO of Risant Health. As announced back in March 2024, Terry Gilliland, M.D. will become the president and CEO of Geisinger once Dr. Ryu transitions to Risant Health.

“Geisinger is proud to formally join Risant Health as its inaugural health system, which will accelerate our vision to make better health easier, more affordable and more accessible for the communities we serve,” said Jaewon Ryu, M.D., J.D. “Geisinger now can extend its vision, strategy and impact to more Pennsylvanians because of the access to an expanded set of tools, expertise and capital that joining Risant Health provides.”

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“Risant Health and Geisinger share a vision for the future of health care. 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,” said Risant Health’s board chair, Greg A. Adams. “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.”

According to Risant Health, they expect to acquire four to five additional community-based health systems in the next four to five years.

It is important to note that Risant Health’s acquisition of Geisinger Health was reviewed and approved by federal and state agencies. The transaction officially closed on March 31, 2024.

abc27 news will keep you updated as more information becomes available.

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