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Advocate, Aurora Health Care merger clears final regulatory hurdle

Downers Grove, Ill.-based Advocate Health Care and Milwaukee-based Aurora Health Care announced March 22 they received the last approval necessary to finalize their proposed merger and become the 10th largest nonprofit health system in the nation.

The Wisconsin Office of the Commissioner of Insurance approved the proposed deal March 22, according to a news release obtained by Becker's Hospital Review. The Federal Trade Commission and the Illinois Health Facilities and Services Board approved the proposed deal in February.

Under the merger, the combined Advocate Aurora Health entity will operate 27 hospitals and more than 500 care sites, with more than 3,300 physicians and nearly 70,000 caregivers and associates. The merged entity will also maintain combined annual revenues of an estimated $11 billion.

The organizations, which announced the deal last December, plan to close the transaction April 1. They named 15 leaders to head the combined entity earlier this month.

"We're full steam ahead," said Jim Skogsbergh, president and CEO of Advocate Health Care, who will also serve as co-CEO of Advocate Aurora Health. "A team of leaders from both systems have developed a comprehensive integration plan that will allow us to accelerate our efforts on safety, health outcomes, consumer experience and cost while delivering value for the patients, communities and employers who count on us."

More articles on transactions and valuations:
California AG approves Adventist, Rideout Health affiliation
U of Mississippi Medical Center, Memorial Hospital to collaborate
Cabell Huntington CEO: Pending merger will be key, help hospital 'flourish' in the industry

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