M&A Roundup: Prime, Tenet, BIDMC Announce Deals
MA's Jordon Health Systems to Join Beth Israel Deaconess
Plymouth, MA-based Jordan Health Systems, Inc. has signed a letter of intent to become part of Boston-based Beth Israel Deaconess Medical Center. The two systems are expected to finalize the deal later this year, under which Jordan Health Systems would become part of Beth Israel Deaconess Medical Center, but retain local management and board governance.
"For more than 100 years, Jordan Hospital has been a vital part of the communities we serve," Jordan Board of Trustees Chair Clark Hinkley, said in prepared remarks.
"This decision was not just about finances. It was about finding a healthcare affiliation that gives us the scale we need to compete in an ever-changing environment and ensure that local care will stay just that...local. By joining BIDMC, we will gain long-term financial stability without sacrificing who we are and what we believe in."
The affiliation will align with the resources of Harvard Medical Faculty Physicians at BIDMC. Also, under terms of the agreement, JHSI would continue to maintain its not-for-profit status.
John Commins is a senior editor with HealthLeaders Media.
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