PIH Health Finalizes Acquisition of Downey Regional Medical Center (DRMC), Welcomes PIH Health Hospital - Downey
Whittier, CA, October 03, 2013 --(PR.com
)-- PIH Health announced today that it has officially acquired Downey Regional Medical Center (DRMC), now known as PIH Health Hospital - Downey.
The announcement follows a process that included PIH Health seeking and gaining approval from the Attorney General’s office to include the Downey hospital in its integrated healthcare network. The two hospitals signed a Management Services Agreement months prior, opening the doors for an eventual partnership between the two mission-based nonprofit providers.
“This announcement is the culmination of the hard work of many and we are excited about the new possibilities that will result from the acquisition,” said Brian Smolskis, Chief Operating Officer for PIH Health Hospital - Downey. “Throughout this process—from the moment we announced our Management Services Agreement with DRMC, to the Attorney General’s approval of the transaction—our shared community, our employees, partners and physicians have supported this effort.”
There will be a transition period, leaders said, for the operations to be coordinated and the name change to be fully implemented, with the installation of new signage and branded materials incorporating PIH Health Hospital - Downey into the healthcare network. A public open house of the Downey campus is planned for early 2014.
Smolskis and James West, PIH Health President and Chief Executive Officer (CEO), noted the significance of the new partnership in the wake of new strides in the healthcare reform implementation.
“October 1 is a significant date for PIH Health, as well in the history of healthcare,” West said. “This is the day the Affordable Care Act signals the official opening of the public exchange market for insurance. We can think of no better way to commemorate this significant step than to officially welcome PIH Health Hospital - Downey into our regional healthcare delivery network, positioning PIH Health to meet the expanding needs of the communities we serve.”