Mercy Health System of Maine in Portland and Eastern Maine Healthcare Systems in Brewer signed a definitive agreement to form a strategic alignment in which Mercy and all of its units will integrate into EMHS.
The organizations signed a non-binding letter of intent in December 2012.
Under the agreement, both organizations are committing to continuing operating Mercy under the Ethical and Religious Directives for Catholic Health Care Services. In addition, a local board will continue to provide oversight for Mercy.
Mercy and EMHS will now seek necessary regulatory approvals to close the transaction, including a state certificate of need, federal antitrust clearance and approval from the Vatican. The process is expected to take six months.
New Details Emerge on Dissolution of Deal Between Mercy Health System of Maine, Steward Health
Mercy Health System of Maine Terminates Potential Deal With Steward Health
The organizations signed a non-binding letter of intent in December 2012.
Under the agreement, both organizations are committing to continuing operating Mercy under the Ethical and Religious Directives for Catholic Health Care Services. In addition, a local board will continue to provide oversight for Mercy.
Mercy and EMHS will now seek necessary regulatory approvals to close the transaction, including a state certificate of need, federal antitrust clearance and approval from the Vatican. The process is expected to take six months.
More Articles on Mercy Health System of Maine, Eastern Maine Healthcare Merger:
Mercy Health System of Maine, Eastern Maine Healthcare Systems Sign Letter of IntentNew Details Emerge on Dissolution of Deal Between Mercy Health System of Maine, Steward Health
Mercy Health System of Maine Terminates Potential Deal With Steward Health