Ascension Health Finalizes Marian Health System Merger
Marian Health System, a Tulsa, Okla.-based provider with three regional health systems.
Marian's three regional health systems include Via Christi Health in Wichita, Kan., which is currently an Ascension Health affiliate, Ministry Health Care in Milwaukee, and St. John Health System in Tulsa. Among the three systems within Marian, which was founded in 1989, there are more than 30 hospitals and dozens of physician clinics throughout Wisconsin, Minnesota, Oklahoma and Kansas.
Financial details of the merger were not disclosed. Ascension and Marian first discussed a potential deal more than two years ago, and both signed a memorandum of understanding this past August to join the organizations.
Under the deal, Sister Therese Gottschalk, president and CEO of Marian, will become the executive advisor to Ascension Health President and CEO Anthony Tersigni, EdD. Ministry Health Care President and CEO Nicholas Desien will become Ascension's market leader for Wisconsin, Kansas and Oklahoma.
Ascension Health, which recorded $968 million of profit and $16.6 billion of total operating revenue in fiscal year 2012, will now have more than 90 hospitals within its network.
More Articles on Hospital Transactions:
© Copyright ASC COMMUNICATIONS 2015. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
New from Becker's Hospital Review