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Hospitals in Olean, Bradford seek to combine services

BRADFORD, Pa. -- Olean General Hospital and Bradford Regional Medical Center hope to combine their services under a new parent company.

The boards of directors of the hospitals say they've signed a nonbinding letter of intent.

The deal is expected to take about a year to complete, including regulatory approvals. The combined entity will serve about 150,000 residents in northwestern Pennsylvania and southwestern New York. The hospitals are about 10 miles apart.

Under the plan, the hospitals will maintain separate boards and foundations, but will cooperate on purchasing and other economies of scale, including the ability to retain more physicians.

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