Business Roundup: Health System Buyers, Partnerships Sought
"After careful consideration, our Board, management team, and advisors have determined that the sale of our hospitals is the most sound and responsible business decision," Issai said. "Like other health systems across the country, we recognize that the way health care is provided today—where it is offered, how it is paid for, how it is measured—is changing dramatically, and we believe that new ownership is in the best interest of the communities we serve."
Last year DCHS formed an affiliation with Ascension Health, which remains in effect. Issai said that DCHS has benefitted from the affiliation, but that it won't merge with Ascension Health.
DCHS Board Chair, Sr. Marjory Ann Baez, DC, called the decision to sell the healthcare ministry "difficult, particularly for the Daughters of Charity. But the realities of modern healthcare are harsh, and after prayerful discernment, it became clear that the responsible thing to do is to find new ownership, blessed with the resources necessary to thrive."
DCHS has already begun pursuing the sale of its hospitals in Northern California and is starting the process for its Southern California hospitals and the health system as a whole.
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