Alexian, Adventist complete deal
Alexian Brothers Health System, part of St. Louis-based Ascension, and Adventist Midwest Health, part of Florida's Adventist Health System, said Monday they have completed the legal steps to complete their joint company and created the third-largest health system in Illinois.
The newly integrated health care system encompasses five Alexian hospitals and four Adventist hospitals in the suburbs and will serve a combined population of more than 3.8 million people.
The new company allows the two separate organizations to preserve their respective religious identities and mission priorities, and to integrate operations while maintaining separate ownership of their assets. The affiliation will result in a notably diverse physician provider network, bringing together more than 3,000 physicians to offer better coordinated, more comprehensive care for patients, they said in a statement.
Last June, Alexian and Adventist announced they signed a nonbinding letter of intent to form the joint operating company. The health systems then signed a definitive agreement announced in October. After legal and regulatory approvals, including a vote from the joint members of the new organization's board of directors on Feb. 4, the two entities legally entered into a joint operating company.
“Making our partnership official is another significant milestone, and we continue our work together to build a comprehensive, integrated health system that will serve almost 4 million residents of our service area,” said Mark A. Frey, Alexian president and chief executive officer. “Our focus will remain on our patients and our communities — in order to deliver high quality, compassionate care to those who need it most.”
The array of services will provide our communities with high-quality care, while reducing cost and overhead, said David L. Crane, Adventist president and CEO.