M&A Roundup: CT's Saint Francis Care to Join Ascension
Maine's Mercy Health System to merge into EMHS
Portland-based Mercy Health System of Maine on Jan. 14 signed a letter of agreement that will "integrate" the system into Brewer-based Eastern Maine Healthcare.
"Signing the definitive agreement is another significant step toward fulfilling our bright future as a member of EMHS," Eileen F. Skinner, president/CEO of Mercy Health System of Maine, said in prepared remarks. "EMHS supports our mission and our identity as a Catholic healthcare system. We look forward to continuing to work with our EMHS colleagues through the approval process and the eventual integration of Mercy into EMHS."
The definitive agreement details the actions and commitments both health systems will undertake for Mercy to become an EMHS member. In addition to a commitment to operate Mercy according to the Ethical and Religious Directives for Catholic Health Care Services, a local board will continue to provide oversight for Mercy, the two health systems said in a joint media release.
The regulatory approval process is expected to take six to nine months, and will require the approval of the Vatican. Financial terms of the deal were not disclosed.
The Chester County (PA) Hospital and Health to join Penn Health
The Chester County Hospital and Health System this month signed of a non-binding letter of intent to join the University of Pennsylvania Health System. TCCHHS already has existing relationships with Penn in the areas of cancer, radiology, radiation oncology and maternal fetal medicine.
"Throughout this process we spoke with many excellent organizations, but it quickly became clear to our Strategic Planning Committee and our Board of Directors that the potential to join the University of Pennsylvania Health System was the best decision for our community and our Health System," William W. Wylie, Jr., chairman of TCCHHS said in prepared remarks.
The Chester County Hospital has 220 beds and is building a new patient tower that will open this summer with capacity for an additional 72 rooms. The providers hope to finish the due diligence process and complete the transaction by this spring. Terms of the Letter of Intent were not disclosed.
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