Abington Health Buys North Penn VNA
A letter of intent to buy the 93-year-old nonprofit was signed Friday, Nov. 2. The partnership was done in preparation for Obamacare
By April 2013 — and in preparation for Obamacare — Abington Health will have acquired nonprofit North Penn Visiting Nurse Association. Officials from both Abington Health and North Penn VNA signed a letter of intent Friday, Nov. 2. The amount of purchase was not released. Abington Health is the umbrella corporation that owns Abington Memorial Hospital and Lansdale Hospital. According to The Philadelphia Inquirer, North Penn VNA's net income dropped from $626,993 to $277,787 in year ending June 30, 2011, as reported in its Form 990 tax return. North Penn VNA had $6.7 million in revenue, as of June 30, 2011, according to the article. The North Penn VNA employs about 100 nurses who provide home care and hospice. "The leaders and staff of the …
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Tim Lewis
9:45 am on Wednesday, November 14, 2012
For the same reason they tried to merge with Holy Redeemer - they will not be able to survive otherwise. Obamacare only addresses some uninsured, imposes some regulation on health insurance, and levies a whole bunch of taxes, but it does absolutely nothing to control the cost of healthcare or any of the real, true, systemic problems facing the industry. more ›