The Highlands at Wyomissing Announces Plans for Intent to Operate Independently.
Wyomissing, PA., June 19, 2017 – Reading Health System (RHS) and The Highlands at Wyomissing (The Highlands) today announced plans for the continuing care retirement community to operate independently of Reading Health System. This change, initiated by The Highlands and approved by RHS, is aligned with The Highlands’ focus on its mission of enriching the lives of seniors and on the long-term growth and stability of its community. “Reading Health values our 30-year history with The Highlands at Wyomissing,” said Clint Matthews, President & CEO, Reading Health. “We are committed to maintaining a strong collaborative relationship throughout this transition and into the future for the benefit of current and future residents of The Highlands. By operating as an independent continuing care retirement community, The Highlands can pursue their vision of growth while offering their residents immediate access to Reading Health’s high-quality, nationally recognized health care based right in their community.”
“This milestone, while seamless for our residents and staff, will empower The Highlands to develop, plan and execute future strategic investments and programmatic initiatives to the benefit of residents,” said Kevin DeAcosta, President and CEO, The Highlands at Wyomissing. “With a proven record of strong financial performance, The Highlands is well positioned for a long and prosperous future.”
As the regulatory review process for this transaction is currently underway, the terms have not been released.