Penn State's Board of Trustees approved two resolutions during a virtual meeting Tuesday, according to a Penn State news release.
The board approved an amendment to the university's borrowing authority, allowing it to borrow up to $250 million to support its operations during the coronavirus pandemic.
The board also approved Penn State Health's acquisition of the Holy Spirit Health System from Geisinger, a plan first announced in October 2019, according to the release.
Penn State Health will own the Holy Spirit Hospital in Camp Hill; its outpatient practices and urgent care centers; and the Ortenzio Heart Center and West Shore EMS.
The health system will fully transition to Penn State Health in October pending approval by the Pennsylvania attorney general and the Federal Trade Commission, according to another Penn State news release.
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