Two Catholic Health Systems Announced Intent to Merge–Catholic Health East and Trinity Health
Posted Oct 18 2012 7:01pm
Before all of this can take place, due diligence is first order. A combined health system would cover and offer services in 21 states to include 82 hospitals and almost 90 continuing care facilities and hospice programs. The numbers of employees are 87,000 and 4000 of those are doctors employed by the current 2 systems. Catholic Health Initiatives, which Catholic Health East is a member of created a new VC group to also invest in various areas of Catholic healthcare.
It looks like there’s some real major moves within the Catholic healthcare system with mergers and acquisitions to say the least but that’s also going on everywhere else today. It is pretty interesting to say the least to be seeing non profits organizations for the most part creating VC firms. In the meantime we have Steward Healthcare wanting to buy more Catholic Hospitals too.
Neither company has hospitals in the same states so that might breath some relief for the “layoff” talk and situations that comes about when companies merge. BD
Newswise — NEWTOWN SQUARE, PENN. and NOVI, MICH. - - October 17, 2012 - The boards and sponsors of Catholic Health East (CHE) and Trinity Health, two leading Catholic health systems, announced today they signed a non-binding Letter of Intent to come together into a unified national health system that will enhance their mission of service to people and communities across the United States.
The boards also announced that Joseph R. Swedish, president and CEO of Trinity Health, would become president and CEO of the anticipated new organization, and that Judith M. Persichilli, president and CEO of CHE, would become executive vice president of the new organization. Until the new organization is created, both executives will lead its formation while retaining their current title, role and responsibilities for their respective organizations.