Hoag, St. Joseph Health in California Finalize Deal to Form Covenant Health
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.
More Articles on Hospital Transactions:2 Public Hospitals Near New Orleans Look to Lease Facilities
Continuum Health Partners, Mount Sinai in New York Pursue Merger
Trends, Tricks and Trip-ups in Non-Profit Hospital Transactions
© Copyright ASC COMMUNICATIONS 2012. 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