DANVILLE, Pa. — The deal merging Geisinger into a new nonprofit with Kaiser Permanente's health care system has been completed, according to a release Tuesday morning.
The deal makes Geisinger Risant Health's first health system acquisition "dedicated to increasing access to value-based care and coverage."
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, the release said.
The deal was announced in April of 2023.
Dr. Jaewon Ryu, who has served as Geisinger's president and CEO since 2019, will become the first CEO of Risant Health. As announced last month, Dr. Terry Gilliland will assume the role of president and CEO of Geisinger once Dr. Ryu's transition to Risant Health is complete.
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.
Risant Health expects to acquire four to five additional leading community-based health systems over the next four to five years.
Geisinger has been serving communities in central Pennsylvania for more than 100 years since its founding in 1915.