Updated

Rick Santorum announced Tuesday he is suspending his campaign for the Republican presidential nomination, effectively conceding the primary race to front-runner Mitt Romney.

Addressing reporters at a historic hotel in Gettysburg, Pa., and standing with his family before a large American flag, Santorum said he reached the decision after a weekend of "prayer and thought."

"We made a decision over the weekend that while this presidential race is over for us, for me, and we will suspend our campaign effective today, we are not done fighting," he said.

The announcement comes amid growing pressure for the former Pennsylvania senator to drop out of the race and back the former Massachusetts governor.

FOX News Channel reported that Santorum called Romney before the press conference to announce his decision. John Brabender, a senior Santorum adviser, told reporters that Romney requested the two men meet up at a future date.

Following Santorum's announcement, Romney released a statement calling the former senator an "able and worthy competitor" and congratulating him on his campaign.

"He has proven himself to be an important voice in our party and in the nation," Romney's statement said.

Santorum's chances for winning the nomination had dimmed considerably following Romney's decisive sweep of the Wisconsin, Maryland and Washington, D.C., primaries last week. The former senator fueled further speculation about his possible exit from the race by leaving the campaign trail for several days over the long holiday weekend.

In his speech, Santorum alluded to personal reasons for leaving the campaign trail. His three-year-old daughter, Bella, was hospitalized over the weekend for the second time this year. The child left the hospital Monday evening and was said to be "doing better," but her health remains an ongoing concern.

She suffers from the serious genetic condition Trisomy 18, also known as Edwards syndrome, which is caused by the presence of all or part of an extra 18th chromosome. The condition affects one in 6,000 live births, mostly females, and most children born with the condition do not survive longer than a year.