Catholic Health Initiatives and Dignity Health announced Thursday that they will merge to create the largest nonprofit health care system in the nation, operating facilities in 28 states.
The new health system would include 139 hospitals across 28 states and a combined revenue of almost 29 billion dollars with more than 159 thousand employees.
Dignity CEO Lloyd Dean and Catholic Health Initiatives CEO Kevin Lofton will serve as co-CEOs of the new system, whose name has yet to be chosen.
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The merger between the two means service in 28 states with 139 hospitals, approximately 159,000 employees.
CHI is a co-owner of Centura Health, the largest health system in Colorado, and operates 100 hospitals overall in 17 states, generating revenue of $15.5 billion in fiscal year 2017. "Our new organization will have the talent, depth, breadth, and passion to improve the health of every person and community we serve".
S&P said it will likely update CHI and Dignity Health's respective ratings before the merger deal closes.
"We foresee an incredible opportunity to expand each organization's best practices to respond to the evolving health care environment and deliver high-quality, cost-effective care", said Dean, Dignity's president and CEO.
Advancement of digital technologies like stroke robots and Google Glass.
Merger mania in the healthcare space continues to stay active in December, a trend that's dominated the entire year. Dignity Health has medical facilities in California, Nevada and Arizona.
Dignity Health and CHI are no strangers to each other and have partnered on other initiatives. A precision oncology program is being implemented in three service areas, and four-to-six more service area launches are planned across the country in the next 12 months.
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