The Board of Trustees has decided not to sell any part of the University of Pennsylvania Health System. Instead of a sale, Penn will seek to create a new not-for-profit organization under the control of the University, with its own CEO and governing board. The formation of this entity depends on federal approval, a process which University President Judith Rodin predicts will take anywhere from nine months to a year. The decision was officially announced today by Rodin at a full meeting of the Trustees. This move comes after two months of deliberations by a special committee composed of Trustees, administrators and faculty. According to Rodin, many aspects of the new organization are still uncertain, and much work still remains before anything is finalized. "There's a lot of work to do in this new direction of the Health System before we can put it into effect," Rodin said. And the decision does not represent a final vote by the Trustees. "The Trustees did not vote today," Rodin said. "What they did was endorse a direction. That direction will be pursued and a vote [will be] taken at a later time." The opinion of the special committee was finalized Wednesday night, and it was presented to the executive committee of the Trustees in closed session Thursday morning. Read Monday's Daily Pennsylvanian for complete coverage of the University's plans and reaction from across the University community.
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