Under the deal first announced last year, Highmark is giving the hospital $200 million in longer-term debt and pension obligations and $75 million for Jefferson Regional's charitable foundation.
The deal makes Jefferson Regional "the first health system to officially join Highmark's new integrated delivery system.''
Pittsburgh-based Highmark is trying to create a provider-insurer network to rival the much larger University of Pittsburgh Medical Center network and its affiliated UPMC Health Plan.
Highmark is also in talks to buy control of the Pittsburgh-based West Penn Allegheny Health System and Saint Vincent Health System in Erie.
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