St. Joseph's Hospital Health Center to Join CHE Trinity Health
St. Joseph's Hospital Health Center in Syracuse, N.Y., and Livonia, Mich.-based CHE Trinity Health have signed a nonbinding letter of intent to affiliate, according to a Post-Standard report.
St. Joseph's and CHE Trinity Health will now undergo due diligence before signing a definitive agreement, which they expect to reach by the end of this year, according to the report.
Financial details of the affiliation were not disclosed, although St. Joseph's President and CEO Kathryn Ruscitto told the Post-Standard the transaction is not a sale or acquisition. Instead, the 431-bed St. Joe's will pay an undisclosed fee to join CHE Trinity Health and participate in CHE Trinity Health's purchasing, expansion and other cost efficiency projects.
St. Joseph's is currently one of 27 independent Catholic hospitals in the United States. CHE Trinity Health, the result of the merger between Livonia, Mich.-based Trinity Health and Newtown Square, Pa.-based Catholic Health East this past May, has 82 hospitals across 21 states.
More Articles on Hospital Transactions:
Prime Healthcare CEO Grilled Over Landmark Medical Center Purchase
4 Major Providers Make Moves to Acquire Citrus Memorial Hospital
Sentara Healthcare, Halifax Regional Complete $155M Merger
© Copyright ASC COMMUNICATIONS 2015. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
New from Becker's Hospital Review
100 Great Hospitals in America 2015