Einstein, Jefferson Enter Into Binding Merger Agreement

From left: Lawrence S. Reichlin, chairman, Board of Trustees and Board of Overseers, Einstein Healthcare Network; Barry R. Freedman, president and CEO, Einstein Healthcare Network; Stephen K. Klasko, president of Thomas Jefferson University and CEO of Jefferson Health; and Stephen P. Crane, chairman of the board, Thomas Jefferson University

Einstein Healthcare Network and Jefferson (Philadelphia University and Thomas Jefferson University) announced on Sept. 14 that they had entered a legally binding merger agreement that formalized a letter of intent signed in March.

Einstein and Jefferson will now move forward to obtain all state and federal regulatory clearances.

The merged clinical academic enterprise would host the largest number of residents and fellows in the Greater Philadelphia region, according to a news release issued after a press conference.

“This is a critical step forward for the students and patients of both institutions and equally as important for our community as a whole,” said Stephen K. Klasko, president of Thomas Jefferson University and CEO of Jefferson Health. “Our joint planning in recent months has reinforced how much Jefferson and Einstein share the values dedicated to re-imagining the future of health, education and discovery.”

“Both organizations have a long and storied history in this region and we are excited to bring together our shared vision for delivering high-quality, affordable health care and providing exceptional education and training to the physicians of tomorrow,” said Barry R. Freedman, president and CEO of Einstein Healthcare Network.

Following the integration, Freedman will remain as president and CEO of Einstein while adding the role of executive vice president at Jefferson Health. Klasko will remain the CEO of Jefferson Health, with Bruce Meyer as president of the clinical enterprise.


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