All Children's Hospital & Health System in St. Petersburg, FL, has signed a letter of intent to join the Johns Hopkins Health System as a fully integrated member, the two systems said Tuesday.
The non-cash transaction between the two venerable not-for-profit health systems—the first of its kind for JHHS outside of the Baltimore region—is expected to be completed by the end of the year.
"The integration of All Children's into Johns Hopkins Medicine creates a synergy that allows both partners to continue our mission-centric work in children's healthcare," said Gary Carnes, president/CEO of All Children's. "We believe it increases All Children's value as a key community asset, extending benefits near and beyond to the families of children in need of top-notch clinical care by adding the benefits that the world-class teaching and research opportunities of Johns Hopkins Medicine will bring."
The proposed transaction hasn't been finalized, but the plan calls for ACH to retain its voluntary medical staff and physician organizations, including those University of South Florida physicians practicing at ACH. ACH will operate under the direction of the JHHS governance structure.
"All Children's is a very attractive organization because of its robust high quality clinical programs, its strong regional brand presence, and very high quality leadership team," said Edward D. Miller, MD, dean/CEO of Johns Hopkins Medicine. "The full integration of ACH into JHM offers a unique opportunity to both institutions. With this integration—and as part of its historic mission—JHM can leverage the intellectual and human capital within its pediatrics programs to expand the reach and impact of its current clinical, teaching and research programs."