A group of investors — JARS Health Investments, Anne Arundel Health System (AAHS) and LifeBridge Health — has formally agreed to acquire Evergreen Health. The stock purchase agreement is pending Evergreen’s final transition to a for-profit company, which the Maryland Insurance Administration is expected to consider in June.
“This agreement with some of Maryland’s most respected health care organizations will ensure Evergreen’s success for many years to come,” said Dr. Peter Beilenson, CEO of Evergreen. “I am especially pleased that our new partners share Evergreen’s abiding goal: to provide Maryland residents with the highest-quality services at the most affordable prices.”
JARS is an investment group formed and funded by some of Maryland’s top health care executives specifically to support Evergreen’s mission of providing health insurance to Maryland residents. AAHS includes a 380-bed nonprofit hospital, Anne Arundel Medical Center; a medical group; imaging services; a substance use treatment center; and health enterprises. In addition to a 95-acre Annapolis campus, Anne Arundel Medical Center has outpatient pavilions in Bowie, Kent Island, Odenton, Pasadena and Waugh Chapel.
LifeBridge Health is one of the largest, most comprehensive providers of health services in Maryland. It includes Sinai Hospital, Northwest Hospital, Carroll Hospital, Levindale Hebrew Geriatric Center and Hospital, and related subsidiaries and affiliates.