St. Joseph's Hospital and Internal Medicine Associates of the Southern Tier (IMAST) today formalized their longstanding medical partnership by announcing that St. Joseph's has entered into a Definitive Agreement to purchase the assets of IMAST. The announcement of today's transaction brings the two Southern Tier healthcare providers together under a more integrated relationship. Terms of the agreement were not disclosed.
Donald W. Hartman, President/CEO of St. Joseph's said because of the similarities of the two organizations, St. Joseph's and IMAST have historically partnered and collaborated on numerous health care initiatives. "Over the years the IMAST physicians have been one of the top physician practices admitting patients to St. Joseph's," said Hartman. "At the same time IMAST physicians serve on the Hospital's Board of Directors and as Medical Staff Leaders they are active participants on several hospital committees. Finally, IMAST's mission of serving our patient constituency makes them a natural, extended partner for our hospital. St. Joseph's asset purchase of IMAST merely formalizes a relationship that has grown and has been nurtured for several years," said Hartman.
Joseph Calderone, MD, IMAST President said his group is excited about the formalization of their relationship with St. Joseph's. "I've always been very impressed with how professional and compassionate St. Joseph's caregivers have been in administering to our patients," said Dr. Calderone. "St. Joseph's and IMAST have always followed the team approach of medicine when it concerns patient care and compassion."
Under this new relationship, IMAST physicians will become employees of AdvantageHealth Medical Services (AHMS), a practice closely aligned to St. Joseph's. AHMS currently includes physicians from St. Joseph's Nephrology and Gastroenterology services.
Additionally, under the new relationship, patients of both organizations will not notice any visible changes to their care or treatment. There will be a seamless transition during which patients can still expect to receive the same high quality care and attention from the IMAST physicians as well as the staff at St. Joseph's.
At the same time, IMAST's healthcare commitments with other local groups and organizations will remain intact. IMAST patients will continue to have a choice as to where they wish to receive their hospital care since the physicians at IMAST have admitting privileges at both Elmira hospitals. There will be no change for patients as to which hospital they select for their care and treatment.
"We are excited by the formal arrangement between our two organizations," said Hartman. "Collectively, the IMAST physicians group has provided over 200 years of medical care coverage to our community as one of the leading medical practices in the Southern Tier. Each member has his/her roots well planted in our community and has been dedicated to serving all of our patients for many years. With our new relationship, comes our ability to explore new and/or expanded services for our patients in a more cost effective way. This clearly is a win-win for St. Joseph's, IMAST and the community."
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