Highmark has poured more than $1B into its hospital network

Pittsburgh-based Allegheny Health Network has received $1.3 billion from payer Highmark Inc. since 2018, the Pittsburgh Post-Gazette reported Nov. 30. 

The health network, owned by parent company Highmark Health, received funds from Highmark Inc. to build a new 160-bed hospital, four mini-hospitals and new cancer treatment centers, and to renovate existing facilities. 

Highmark Inc. operates several BCBS affiliates, including Delaware, West Virginia and parts of Pennsylvania and New York. 

Highmark Health, Highmark Inc.'s parent company, acquired Allegheny Health Network in 2013 for $1 billion. 

According to a presentation to bondholders obtained by the Post-Gazette, the health plan continues to transfer money to fund improvements to the health system. 

At the end of August, Highmark Inc. transferred $124 million to the health system, the newspaper reported.

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