Upper Chesapeake Health System joins University of Maryland Medical System - Baltimore Business Journal:

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The news comes shortly on the heelas of acquiring in Montgomery More hospital mergers are expected as executives grappl with lower profit margins amid the Merging allows hospitals to reduce costs by sharinh resources and hold greater purchasinh power when buying supplies because they are part of a larger network. As part of the agreement, Uppef Chesapeake Health ended its financial arrangementwith , whicb had held a minority ownership in the health systemk for more than a decade. University of Marylaned has acquired St. Joseph’s ownership interest and will appointg two new board members to the UpperChesapeake Board.
The University of Maryland Medical syste will in October begin supporting Uppe r Chesapeake financially so it can grow its clinical programs and Ayear later, the Baltimore medical system will providd a second round of funding to supporrt growth in clinical programs. The finalk phase, a potential full would occurin 2013, when UMMS would issue debt to be used to expand facilitieas at Upper Chesapeake’s two hospital Upper Chesapeake executives anticipate a need to expand the numbedr of inpatient beds at both Uppeer Chesapeake Medical Center in Bel Air and Harforc Memorial Hospital in Havree de Grace.
The affiliation with the Universit of Maryland is also expected to make it easier for Upper Chesapeaks to recruit physicians toHarford County. Uppefr Chesapeake is Harford County’s largestf private employer, with 3,000 employees, more than 550 medical stafferz and 286 licensed The University of Maryland Medicakl System isa nine-hospital network that includes the , Kernanj Orthopaedics and Rehabilitation Hospital, , Baltimore Washingtoh Medical Center and Shore Health System. UMMS employsd 15,000 people and has $2.1 billion in operating revenue.