Pen Bay, Waldo County Healthcare to partner under new parent company

Pen Bay Healthcare and Waldo County Healthcare have reached an agreement to create a new parent company that will become the MaineHealth member for Waldo and Knox counties.

The two health care organizations made the announcement on Tuesday, saying that Pen Bay Medical Center and Waldo County General Hospital will remain separate under the new partnership, which is subject to due diligence and regulatory approvals.

Pen Bay and Waldo County said the new parent company will allow continued collaboration between each organization in developing integrated services and operation. That, in turn, will let both organization control rising health care costs, improve the health of people in their communities and enhance patient care, the organizations said.

Mark Biscone, CEO of Waldo County Healthcare and interim CEO of Pen Bay Healthcare, said in a prepared statement that both organizations have already saved “millions of dollars through large group purchases of supplies and technology and shared resources and expertise” through its membership with MaineHealth.

“This new partnership is a natural extension for the Midcoast,” he said. “Since we began collaborating in the fall of 2014, the two organizations have successfully integrated over 40 clinical and non-clinical programs. By working together [Waldo County Healthcare] and [Pen Bay Healthcare] will be able to do more for our Knox and Waldo County patients and be more cost efficient at the same time."

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