The two groups announced the news in a joint press release Wednesday. They said the transaction is expected to close later this year, pending regulatory approval.
Merge Into One Network
Once the merger is complete, the newly formed system will have 25,000 team members, nine hospitals, over 6,000 physicians and more than 300 ambulatory facilities. It will serve an area with over 4.2 million residents.
“The two organizations are poised for growth in several highly ranked services such as orthopedics, cardiology, obstetrics and behavioral health,” they said in the release.
The existing physician and medical groups of both systems will remain intact. “With a broader clinical network, care will be available when and where patients need it, seamlessly connected throughout the system,” said the release.
Community Investment Funds
In addition to the merger, the organizations announced the creation of two community investment funds, putting in $100 million for each respective community. Those funds will be used to support partnerships with organizations that promote community health equity, well-being, and local economic growth. The funds are expected to generate millions of dollars in annual interest.
“By working together, we will connect patients and communities to personalized care, advanced clinical solutions and innovative technologies through improved access, expertise and services,” NorthShore President and CEO J.P. Gallagher said in the release.
Edward-Elmhurst Health President and CEO Mary Lou Mastro shared similar remarks in the release. “We look forward to working with our staff and clinical partners in transforming the future of healthcare through their expertise, compassion, and commitment.”
Gallagher will serve as president and CEO of the merged healthcare system. Mastro will join the executive team of the organization and continue as CEO of the Edward-Elmhurst region.
Naperville News 17’s Casey Flanagan reports.
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