Business Roundup: Cadence Health, Rockford Health System to Merge
The week's largest healthcare deal announcement involves the largest health system in northwestern Illinois. Other news of merger talks comes from central New York state and Wisconsin.
Northern Illinois' Cadence Health and Rockford Health System have jointly announced that they're in merger talks.
"The Rockford Health System Board of Directors has engaged in a deliberate, comprehensive and strategic process to identify a partner to further strengthen the clinical services we provide to Rockford and the region," RHS CEO/President Gary Kaatz said in prepared remarks. "Cadence and Rockford Health System match up on all criteria, including commitment to local governance, superior clinical services and best practices, and a focus on community benefit."
RHS and Winfield, IL-based Cadence will spend the "next several months" refining the partnership, which would be subjected to regulatory review and approval.
Cadence CEO/President Mike Vivoda called the two health systems "like-minded organizations, both with a singular vision of providing excellent patient care with outstanding clinical outcomes guided by the highest standards of quality and safety. Together, we can build a leading multi-regional health system that meaningfully improves access to care, elevates quality, and lowers cost to deliver the best care and value to the communities we serve."
- Doc Shortage 'Fix' Is a Disaster Waiting to Happen
- Physician Pay Increasingly Linked to Value-based Metrics
- MU Slides into Summer of Discontent
- 2015 OPPS Proposed Rule Detailed
- ACGME Chief Sees 'Huge' Risk of Error in Proposed Assistant Physician Licensure
- CDC Expanding Quality of Care Efforts
- Critical Times for Small and Rural Hospitals
- 4 Hot Healthcare Exec Titles; 1 Not
- Advanced EHRs Save 10% Per Patient, Study Says
- Fees Lurk in Health Plans' Shift to e-Payments