Hoag, St. Joseph Health in California Finalize Deal to Form Covenant Health
Orange, Calif.-based St. Joseph Health and Newport Beach-based Hoag have completed an affiliation in which the two organizations will now operate as Covenant Health Network.
Hoag President and CEO Richard Afable, MD, will become president and CEO of CHN and will serve as executive vice president of the Southern California region of St. Joseph Health, according to a news release. Robert Braithwaite, Hoag's current COO, will take over Dr. Afable's former post.
CHN will feature seven acute-care hospitals, two of which were Hoag's and five from St. Joseph Health, and both systems will keep their identities and faith affiliations. Hoag is Presbyterian, while St. Joseph is Catholic. Combined, Hoag and St. Joseph Health cover more than $5 billion in annual revenue.
The two systems announced their intention to affiliate in August 2012 and gained approval from the state attorney general's office Feb. 8.
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