Risant Health completes acquisition of Geisinger
WASHINGTON, April 2, 2024 /PRNewswire/ -- Risant Health has announced the completion of its acquisition of Geisinger as its first health system dedicated to increasing access to value-based care and coverage. Together, the organizations will create a new value-based care platform that includes best practices, tools, technology and services to support leading community-based health systems.
The organizations are dedicated to creating a new value-based care platform to improve the health of millions of Americans.
WASHINGTON, April 2, 2024 /PRNewswire/ -- Risant Health has announced the completion of its acquisition of Geisinger as its first health system dedicated to increasing access to value-based care and coverage. Together, the organizations will create a new value-based care platform that includes best practices, tools, technology and services to support leading community-based health systems.
Risant Health's goal is to expand and accelerate the adoption of value-based care in diverse, multipayer, multiprovider, community-based health system environments and improve the health of millions of people in communities across the country. Through this first acquisition, Risant Health brings together Kaiser Permanente's integrated care and coverage expertise and Geisinger's experience in advancing value-based care in a model that includes various payers and a broad network of providers, while serving some of the most vulnerable and marginalized communities.
With the close of the Risant Health and Geisinger transaction, Jaewon Ryu, M.D., J.D., who has served as Geisinger's president and CEO since 2019, will become the first CEO of Risant Health. As announced in March 2024, Terry Gilliland, M.D., will assume the role of president and CEO of Geisinger once Dr. Ryu's transition to Risant Health is complete.
"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."
As its inaugural health system, Geisinger will play an important role in shaping Risant Health's strategy, platform and operational model. Geisinger will maintain its name and mission, continue accepting patients covered by other health plans and continue offering its members a broad network of care providers in addition to Geisinger.
"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 Dr. Ryu. "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."
As a part of Risant Health, Geisinger will build on its 109-year mission to care for rural and urban communities across Pennsylvania. Geisinger will have access to capital, technology and resources to fuel improvements in facilities, drive innovation and investment in patient care, and continue the expansion of Geisinger Health Plan.
In the future, Risant Health's investments to advance value-based care will accelerate Geisinger's journey to make better health easier by offering Geisinger members enhanced health insurance options and offering patients easier access to Geisinger's high-quality, innovative clinical programs and more robust health management technology, tools and programs.
Risant Health expects to acquire 4 to 5 additional leading community-based health systems over the next 4 to 5 years.
Risant Health's value-based platform will support its health systems with a set of technology, services and capabilities designed to deliver superior health outcomes and a lower total cost of care, in diverse business models.
Initial platform solutions will aid Risant Health organizations in delivering evidence-based care everywhere — the "best-of" knowledge to provide high-value, effective care at the right time. Additionally, Risant Health will help health systems and their patients know how to easily understand, access and navigate to the right care at the right time and place. Risant Health's acquisition of Geisinger Health was reviewed and approved by the appropriate federal and state agencies and the transaction closed on March 31, 2024.
About Risant Health
Risant Health is a nonprofit, charitable organization headquartered in Washington, D.C., with a transformative vision to improve the health of millions of people by increasing access to value-based care and coverage. Risant Health is dedicated to bringing together like-minded, nonprofit community-based health systems from across the country in order to deliver better health outcomes through value-based care approaches. Risant Health's value-based platform will support its health systems with a set of technology, services, and capabilities designed to deliver superior health outcomes and a lower total cost of care in diverse business models. Risant Health was created by Kaiser Foundation Hospitals in 2023. Learn more about Risant Health.
About Geisinger
Geisinger is among the nation's leading providers of value-based care, serving 1.2 million people in urban and rural communities across Pennsylvania. Founded in 1915 by philanthropist Abigail Geisinger, the non-profit system generates $10 billion in annual revenues across 134 care sites - including 10 hospital campuses, and Geisinger Health Plan, with 600,000 members in commercial and government plans. The Geisinger College of Health Sciences educates more than 5,000 medical professionals annually and conducts more than 1,400 clinical research studies. With 26,000 employees, including 1,600 employed physicians, Geisinger is among Pennsylvania's largest employers with an estimated economic impact of $14 billion to the state's economy. On March 31, 2024, Geisinger became the first member of Risant Health, a new nonprofit charitable organization created to expand and accelerate value-based care across the country. Learn more at geisinger.org or follow on Facebook, Instagram, LinkedIn and X.
Contact:
Risant Health
Stephen Shivinsky
[email protected]
Geisinger
Chris Murphy
[email protected]
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SOURCE Kaiser Permanente
