BizFeed: Another Hospital Exploring Merger; Navy Yard’s Sustainable Power Plan
1. Just Days after Abington and Jefferson Merger, Aria Health Exploring a Deal
The News: Aria Health is the latest health system to explore a merger deal. Although the company says there is no deal or potential partner is in place, it would certainly be an attractive partner considering its three hospitals in Northeast Philadelphia. Aria hopes to make a decision by late summer.
From an Aria statement:
With the sweeping changes in the healthcare industry, nationally and in the Philadelphia region, the Aria Health Board of Directors believes it is our responsibility to explore all options to enhance our services and better meet the future needs of the communities we serve. We’ll base any potential partnership decision, first and foremost, on what’s best for patients, what will further our mission and ensure we can continue to serve the community as we have for more than a century.
Why it Matters: Hospital merger and acquisition activity in the Philadelphia region shows no signs of slowing down. Just last week, Jefferson and Abington Health completed a merger that created a local health care behemoth with 19,000 employees and 3,370 physicians. In 2014 alone, the University of Pennsylvania Health System teamed up with Lancaster General Health, and AtlantiCare Health System signed a merger agreement with Geisinger Health System.
The Philadelphia Business Journal broke the Aria Health story and highlights Trinity Health as a possible suitor:
Eve Pidgeon, a Trinity spokeswoman, said the health system’s policy is not to talk about deals until they are done. She did say Trinity is always interested in opportunities to expand its health care ministry, and is routinely in discussions with other health-care providers about potential partnerships.
2. Navy Yard Installing “Smart Grid” Power System
The News: The Philadelphia Navy Yard is taking power into its own hands. The Philadelphia Industrial Development Corp. is installing a “microgrid” network of renewable energy sources throughout the 12,000 acre campus that’s home to Urban Outfitters and GlaxoSmithKline.
The Philadelphia Inquirer has more:
Landis & Gyr was selected from nine bidders, said Will Agate, senior vice president, Navy Yard management and development. The price was not disclosed.
The company will deploy an off-the-shelf system that it markets under the Gridstream brand. The real innovations may come when the Navy Yard begins to integrate its customers into an assortment of local power sources, including some already in place – battery storage systems, solar panels, electric vehicle-charging stations, and gas-fueled turbines and fuel cells.
Why it Matters: The Navy Yard and the companies that call it home are continually at the forefront of innovation in the business world. Now, they want to innovate in their small corner of the world as well. Rather than sitting back and waiting for the city or politicians to create a plan, they’re doing it themselves. Does this mean we’ll see more Teslas and Chevy Volts parked there?
3. Shocker: Philadelphia is One of the Worst Regions for Commuting
The News: Here’s an item that shouldn’t surprise anybody who drives to work — NerdWallet calls Philadelphia “one of the worst cities for car drivers and for commuters.” Drivers in Philly face 48 hours of annual delays, which is 15 hours more than the national average.
NerdWallet breaks it down by region:
1. Middletown, Delaware
Average car insurance premium: $1,908
Average gas price: $3.31
Average one-way commute time: 35.3 minutes
Percentage of workers traveling by car: 89.7%
Percentage of commuters using public transportation: 2.6%
2. Montgomeryville, Pennsylvania
Average car insurance premium: $963
Average gas price: $3.70
Average one-way commute time: 31.0 minutes
Percentage of workers traveling by car: 91.1%
Percentage of commuters using public transportation: 3.8%
3. Morrisville, Pennsylvania
Average car insurance premium: $970
Average gas price: $3.65
Average one-way commute time: 30.6 minutes
Percentage of workers traveling by car: 87.5%
Percentage of commuters using public transportation: 4.0%
4. Bear, Delaware
Average car insurance premium: $2,418
Average gas price: $3.42
Average one-way commute time: 27.5 minutes
Percentage of workers traveling by car: 93.4%
Percentage of commuters using public transportation: 3.0%
5. Lansdowne, Pennsylvania
Average car insurance premium: $1,300
Average gas price: $3.52
Average one-way commute time: 33.8 minutes
Percentage of workers traveling by car: 73.8%
Percentage of commuters using public transportation: 18.7%
Why it Matters: Wasting time in your car means less time being productive at work and less time spent with loved ones. Plus traffic sucks and makes almost everybody stressed out. Studies like these are even more evidence that working from home translates into much more productivity. (I should know, I’m writing this from my kitchen table.)