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Catholic Health Initiatives to Acquire St. Luke's Episcopal Health System

The Episcopal Diocese of Texas announced it has approved a definitive agreement to transfer Houston-based St. Luke's Episcopal Health System to Englewood, Colo.-based Catholic Health Initiatives.

St. Luke's board of directors evaluated 30 possible partners, narrowing that down to three last month. The board ultimately chose to merge with CHI due to the larger system's integrated care model and compatible faith-based culture.

Under the agreement, expected to be finalized early this summer, CHI will pay $1 billion to create the Episcopal Health Foundation and invest another $1 billion into the health system, to be renamed St. Luke's Health System.

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