San Francisco-based UCSF Health has acquired two Dignity Health hospitals.
Saint Francis Memorial Hospital and St. Mary's Medical Center, both also located in San Francisco, bring a total of 1,800 employees and providers onto the UCSF Health team, according to an Aug. 1 news release.
The two parties signed a $100 million definitive agreement for UCSF Health to take on the hospitals in February. In early July, UCSF Health and California Attorney General Rob Bonta signed a cooperative agreement that preserved key services and cleared the way for the two hospitals to join UCSF Health.
The hospitals shed their religious affiliation and are now known as UCSF Health Saint Francis and UCSF Health St. Mary's under the acquisition. The facilities will keep their existing services and UCSF Health will also retain employees from both hospitals, the release said.
UCSF plans to immediately invest $100 million to support the integration of the two hospitals over the next two years.
"At this time, all Saint Francis and St. Mary's patients will continue to access services just as they do today at the same locations, through the same telephone numbers, and using the same digital health tools," the release said. "Patients will be able to continue to receive primary and specialty care from their current providers."
The acquisition includes a $430 million investment to expand the number of patients seen, improve physical facilities and upgrade technology at the hospitals.
UCSF Health's commitments under the acquisition include $10 million in annual charity care from the two hospitals and at least $12.3 million in annual combined community benefit spending, with a 2.4% annual increase for charity care and community benefits at the hospitals.