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Alexian Brothers Health System, Adventist Midwest Health form third-largest system in Illinois

Hinsdale, Ill.-based Adventist Midwest Health, part of Altamonte Springs, Fla.-based Adventist Health System, and Arlington Heights, Ill.-based Alexian Brothers Health System, part of St. Louis-based Ascension Health, have finalized their agreement to form an integrated healthcare system.

Last year, Adventist Midwest Health and Alexian Brothers Health System signed a definitive agreement to form an integrated healthcare system. After receiving legal and regulatory approvals, the two entities now have legally formed a joint operating company.

The agreement creates the third-largest health system in Illinois. The new system encompasses five Alexian Brothers hospitals and four Adventist Midwest Health hospitals in suburban Chicago and will serve more than 3.8 million people, according to a news release.

The JOC allows the two organizations to keep their respective religious identities and mission priorities, the release reads. Also, it allows them to combine operations, but still maintain separate ownership of their assets, the release reads.

The result of the affiliation will be a physician provider network that brings together 3,000 physicians to offer better coordinated and more comprehensive care.

"Making our partnership official is another significant milestone,and we continue our work together to build comprehensive, integrated health system that will serve almost four million residents of our service area," ABHS President and CEO Mark A. Frey said in a news release. "Our focus will remain on our patients and our communities — in order to deliver high quality, compassionate care to those who need it most."

AMH President and CEO David L. Crane echoed Mr. Frey, saying that the services that the two entities can offer together "will provide our communities with high-quality care, while reducing cost and overhead."

According to Mr. Frey and Mr. Crane, the next step is to name the new integrated healthcare system.

 

More articles on transactions and valuation issues:

Emory, WellStar in discussions to create new health system

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University of Iowa Hospitals and Clinics to purchase Iowa City Heart Center for $1.2 million

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