Somerset Hospital merged with the University of Pittsburgh Medical Center
Ponder & Co. (“Ponder”) is pleased to announce that Somerset Hospital, located in Somerset, Pennsylvania, has merged with the University of Pittsburgh Medical Center (“UPMC”). Somerset Hospital is now called UPMC Somerset.
About Somerset Hospital
Somerset Hospital is a 111-licensed bed hospital, located in Somerset, PA, which offers a wide variety of inpatient, outpatient, emergency, and preventative care services. Over the past 97 years, Somerset Hospital has been committed to providing Somerset and its surrounding communities with access to high quality healthcare. For more information about Somerset Hospital, please visit www.somersethospital.com.
About University of Pittsburgh Medical Center
A $19 billion world-renowned health care provider and insurer, Pittsburgh-based UPMC provides more than $900 million a year in benefits to its communities, including more care to the region’s most vulnerable citizens than any other health care institution. The largest nongovernmental employer in Pennsylvania, UPMC integrates 85,000 employees, 40 hospitals, 600 doctors’ offices and outpatient sites, and a 3.4 million-member Insurance Services Division, the largest medical insurer in western Pennsylvania. For more information, go to www.UPMC.com.
Somerset Hospital engaged Ponder to serve as its financial advisor and to provide the financial advisory and investment banking services in connection with a possible partnership Transaction. Ponder solicited interest from regional and national health systems and healthcare providers and performed a search for a strategic partner. Ponder’s M&A Group served as strategic advisor to Somerset Hospital, managed the strategic partnership selection process and assisted in negotiating key business terms related to the transaction.
About Ponder & Co.
Ponder & Co. provides M&A and Capital Advisory services to more than 150 non-profit hospital and healthcare system clients. Ponder has completed more than 200 M&A engagements involving acute and specialty hospitals, senior health and housing facilities, long-term acute care facilities, ambulatory surgery centers and behavioral health facilities. Transactions have ranged from $10 million to $1.5 billion in value. Ponder’s M&A Group has advised eight clients in the state of Pennsylvania since 2016.
Ponder’s M&A advisory services include:
- Strategic option assessments
- Partnerships, joint ventures and strategic alliances
- Mergers, acquisitions and divestitures
- Business valuations and fairness opinion
- Board and special committee assignment
- Real estate transaction services