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updated: 5/16/2014 7:29 AM

Northwestern, Cadence Health reach merger deal

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Associated Press

The governing boards of two nonprofit health systems in northern Illinois have reached a merger deal, subject to approval from state and federal regulators.

Northwestern Memorial HealthCare and Cadence Health announced the agreement Thursday in a joint statement. The resulting health system, under the name Northwestern Medicine, would include four hospitals and have combined annual revenue of nearly $3 billion.

Current Northwestern CEO Dean Harrison would head the system with Cadence CEO Mike Vivoda serving as regional president and Northwestern Memorial HealthCare senior vice president.

Cadence Health was formed in 2011 in the merger of Winfield-based Central DuPage Health System and Geneva-based Delnor Community Health System.

Northwestern Memorial HealthCare is the parent company of Northwestern Memorial Hospital in Chicago and Northwestern Medical Group.

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