Methodist Health said the move will help it improve its finances. The health system has lost $8 million this fiscal year, according to a news release.
“Methodist Health has been unable to turn around our financial situation, and expenses have exceeded revenues. While this situation is not unique — as many small hospitals are struggling — it is also not sustainable,” said Linda White, Methodist Health CEO.
The boards of both health systems signed the agreement early Feb. 11, and employees were notified shortly after.
Methodist Health’s two hospitals and outpatient facilities will become part of Deaconess Health System.
Read the full news release here.
More articles on healthcare industry transactions:
KKR, GK Investments in talks to acquire largest hospital operator in UAE
Montana health system buys 100 acres
McKesson, Change Healthcare to end health IT partnership
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
