Roundup: Healthcare M&A Deals, Partnerships
If the deal is finalized, Trinity Health CEO/President Joseph R. Swedish would become president/CEO of the new health system, and Judith M. Persichilli, president/CEO of CHE, would become executive vice president.
The new system would have annual operating revenues of about $13.3 billion and assets of about $19.3 billion, and would return almost $1 billion to its communities annually in the form of charity care and other programs, the two systems said.
Both systems described the negotiations as "preliminary" and said their boards and management will meet over the coming months with a goal of signing a definite agreement sometime next spring.
Catholic Health East includes 35 acute care hospitals, four long-term acute care hospitals, 26 freestanding and hospital-based long-term care facilities, 12 assisted-living facilities, four continuing care retirement communities, eight behavioral health and rehabilitation facilities, 31 home health/hospice agencies and numerous ambulatory and community-based health services.
Trinity Health is the 10th largest health system in the nation and the fourth largest Catholic healthcare system in the country, by total number of hospitals and total bed count. Trinity Health operates 47 acute-care hospitals, 432 outpatient facilities, 32 long-term care facilities, and numerous home health offices and hospice programs in 10 states.
- CEO Exchange: Preparing for Population Health
- Advocate, NorthShore Deal Would Create 16-Hospital System
- 3 Strategies for Retaining Millennial Employees
- Better HCAHPS Scores Protect Revenue
- Power of price: In South FL and the nation, healthcare costs often are shrouded in secrecy
- Two NY hospitals to offer free hip and knee replacement surgeries for qualifying patients in December
- Hospital mergers may lead to higher prices
- CEO Exchange: Pressure is On to Partner, Drive Quality
- Narrow Networks Cut Costs, Not Quality, Economists Say
- Top Reason for Nurse Turnover: Managers