Here are five things to know about the brand.
1. Officials announced the merged company’s name would be Beth Israel Lahey Health. Beth Israel Deaconess Medical Center CEO Kevin Tabb, MD, said in a prepared statement the name “signifies a new beginning while harnessing the strength of our revered legacies.”
2. The proposed merger, which received a key approval from the Massachusetts Public Health Council last month, will comprise five healthcare organizations, including BIDMC; Lahey Health; Boston-based New England Baptist Hospital; Cambridge, Mass.-based Mount Auburn Hospital; and Newburyport, Mass.-based Anna Jaques Hospital. If successful, the 13-hospital system will become the second-largest hospital chain in the state in revenue, behind Boston-based Partners HealthCare.
3. Dr. Tabb, who will reportedly become CEO of the combined entity, said each hospital in the system will retain its own brand.
4. The deal is still subject to approval by the state attorney general’s office and the state’s healthcare watchdog organization, the Health Policy Commission, which analyzes how mergers and acquisitions may affect patient costs and access to care.
5. The proposed merger has been criticized by some health experts, including Boston-based Tufts Medical Center President and CEO Michael Wagner, MD, who said, it “would likely siphon the remaining commercial patients from non-Partners hospitals, community health centers and physicians.”
More articles on transactions and valuations:
Partners HealthCare moves forward on Care New England acquisition
State leaders urge Care New England to consider selling shuttered Rhode Island hospital
Hardin Health board OKs Baptist Health acquisition: 4 notes
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.