The organizations “mutually agreed” to back out of the nonbinding agreement, which they entered into last October, according to an April 11 internal memo to employees by Rush University Medical Center CEO Larry Goodman, MD, and President Michael Dandorph, obtained by the Chicago Tribune.
“Though a difficult decision for both parties, we are confident that it is the right one,” the memo stated. “Both organizations maintain their mutual respect for each other and have decided to pursue efforts independently to advance care and service to Chicago area patients and communities.”
Representatives of both institutions declined to answer the Chicago Tribune‘s questions as to why discussions fell through, and did not comment as to whether the institutions were looking to partner or merge with other hospitals or health systems, according to the report.
Little Company of Mary began its partnership search in 2016.
More articles on transactions and valuations:
Public to vote on measure to renew California hospital’s lease with Dignity Health in June
Tufts CEO slams Beth Israel Deaconess, Lahey Health merger: ‘Merger would siphon remaining commercial patients’
17 recent healthcare partnerships and transactions
