Jefferson Health CFO walks back stance that Einstein is at risk without merger

The hearing on the preliminary injunction is anticipated to last the entire week, but a choice wont happen by the end of the week. An additional round of filings must be submitted by the FTC and the 2 health systems by Sept. 28. The judge managing the case intends to issue a decision prior to Jan. 1, according to The Philadelphia Inquirer..

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The health systems argued that Einstein, which has only had annual operating profits twice considering that 2012, is on a path to monetary failure without the deal and needs $500 million to purchase crucial capital projects and delayed maintenance. Even more, the companies said that without the infusion, Einstein will continue to weaken “as it is forced to cut services or close centers.”.

In action to the legal obstacle, Jefferson Health and Einstein argued that the merger is a matter of survival for Einsteins flagship healthcare facility..

The hearing on the preliminary injunction is expected to last the whole week, but a decision wont take place by the end of the week. An additional round of filings need to be sent by the FTC and the 2 health systems by Sept. 28. © Copyright ASC COMMUNICATIONS 2020.

Jefferson Health strolled back its position that Einstein Health Networks flagship hospital is at danger of monetary failure without a merger during the very first day of arguments at a trial, according to Law360.

Alia Paavola –
Tuesday, September 15th, 2020

The Federal Trade Commissions legal challenge to obstruct the proposed merger of Einstein Healthcare Network and Jefferson Health started in court Sept. 14. The FTC argues that integrating the two Philadelphia-based systems would reduce competition in the Philadelphia area and Montgomery County..

Nevertheless, at day one of the trial, Jefferson Health CFO Peter DeAngelis conceded throughout arguments that Jefferson had no proof that Einstein is in threat of insolvency, in spite of painting the finances as bleak, according to Law360..