WILKES-BARRE — Risant Health announced on Tuesday that it has completed purchasing Geisinger. as its initial health system focused on expanding access to value-based care and coverage. Together, the organizations will develop a new platform for value-based care that consists of top practices, tools, technology, and services to help prominent community-based health systems.
Risant Health's aim is to expand and speed up the adoption of value-based care in diverse, multi-payer, multi-provider, community-based health system settings and enhance the health of millions of people in communities nationwide.
Through this initial acquisition, Risant Health brings together Kaiser Permanente's integrated care and coverage knowledge and Geisinger's expertise in promoting value-based care in a model that includes various payers and a wide network of providers, while catering to some of the most vulnerable and marginalized communities.
With the completion of the Risant Health and Geisinger transaction, Jaewon Ryu, M.D., J.D., who has been Geisinger's president and CEO since 2019, will become the first CEO of Risant Health. As announced in March 2024, Terry Gilliland, M.D., will take on the role of president and CEO of Geisinger once Dr. Ryu's transition to Risant Health is finished.
As its first health system, Geisinger will play a significant role in influencing Risant Health's strategy, platform, and operational model. Geisinger will keep its name and mission, continue to accept patients covered by other health plans, and offer its members a wide network of care providers along with Geisinger.
Risant Health plans to purchase 4 to 5 more prominent community-based health systems over the next 4 to 5 years.
Risant Health's acquisition of Geisinger Health passed review and approval by the appropriate federal and state agencies, and the deal was finalized on March 31, 2024.
