Kaiser Permanente Looks To Add Almost 600,000 Members With Group Health Deal
State regulators and Group Health's voting membership still have to approve the agreement.
The San Francisco Business Times:
Kaiser Permanente Wants To Acquire Seattle's Group Health Cooperative
Oakland-based health care and insurance provider Kaiser Permanente has signed an agreement to acquire Seattle's Group Health Cooperative, which would add about 590,000 members, the group said last week. Kaiser Permanente will put $1.8 billion toward setting up a Group Health Community Foundation after acquiring the health care provider, which has annual revenue of $3.5 billion. Kaiser CEO Bernard Tyson said it will also invest around $1 billion in the next 10 years to put in place new technology, staff and facilities in Washington. (McDermid, 3/8)
In other news, a Kaiser Permanente executive is leaving —
Kaiser's Benjamin Chu Named President, CEO Of Memorial Hermann
Dr. Benjamin Chu will become Memorial Hermann's new president and CEO, marking the first time a physician will lead the Houston-based system. Chu begins the post in June. Chu, 64, currently serves as executive VP of Oakland, Calif.-based Kaiser Foundation Hospitals and Health Plans. He also serves as group president of Kaiser Permanente's Southern California and Georgia regions. (Sandler, 3/8)