Slated as the first agreement of it's type...no co-branding the article stated, but you can bet there will be some incorporation of technologies...to better serve patients...and of course to save some money along the way....a not for profit buying in to a for profit organization...BD
BURBANK — In an unprecedented move they say will widen its circle of care, Burbank-based Providence Health & Services California has purchased a minority stake in Lakeside Systems Inc., based in Glendale.Multimillion-dollar deal by a Burbank-based organization could boost numbers at Providence St. Joseph Medical Center.
The multimillion-dollar investment, which was announced Tuesday, will allow Providence to expand the “integration and coordination of healthcare services” in response to ballooning medical costs and increased patient waiting time, said Dr. Keith Richman, a former chairman of Lakeside and one of the architects of the deal.Privately held Lakeside Systems Inc. is the parent company of Lakeside Healthcare, one of Southern California’s largest for-profit integrated comprehensive healthcare organizations, officials said. Lakeside Healthcare provides a network of services, including more than 300 primary care physicians and 1,500 specialists. Its medical groups serve patients with different types of health insurance, who are able to choose a physician affiliated with Lakeside, according to Lakeside Healthcare’s website.
The deal could boost the number of doctors at Providence St. Joseph Medical Center in Burbank and Providence Holy Cross Medical Center in Mission Hills and will increase case management services for patients, disease management and patient education services in the coming years, said Providence spokesman Dan Boyle. The deal could also result in new technology at both Providence hospitals, he said.
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