Jim Skogsbergh, left, president and CEO of Advocate Aurora Well being, and Eugene A. Woods, president and CEO of Atrium Well being
Picture: Courtesy Advocate Aurora Well being
Advocate Aurora Well being and Atrium Well being have accomplished their merger after a delay in approval from The Illinois Well being Amenities & Providers Assessment Board.
There is no such thing as a value to the transaction, based on the Illinois Well being Amenities & Providers Assessment Board, which met on November 14 and authorized an exemption to permit the merger.
On Friday, December 2, Advocate and Atrium Well being introduced they’d closed on their formal mixture to create Advocate Well being, headquartered in Charlotte, North Carolina.
The mixed group goals to carry medical improvements to sufferers extra rapidly, tackle the foundation causes of well being inequities, advance inhabitants well being, allow profession development and obtain carbon neutrality by 2030, Advocate Well being mentioned.
Eugene A. Woods is chief govt officer of Advocate Well being. Jim Skogsbergh, will serve alongside Woods as chief govt officer till his retirement in 18 months.
The board of administrators includes an equal variety of members from Advocate Aurora and Atrium Well being.
Advocate Well being will preserve a robust presence within the Chicago and Milwaukee areas, together with a deliberate, new, Milwaukee-based institute for well being fairness, Skogsbergh mentioned. The Wake Forest College Faculty of Medication will function the tutorial core of the mixed entity.
WHY THIS MATTERS
The merger creates a big well being system of 67 hospitals in Illinois, Wisconsin, North Carolina, South Carolina, Georgia and Alabama. Advocate Well being could have greater than 1,000 websites of care with mixed revenues of greater than $27 billion.
The union combines the 27-hospital Advocate Aurora Well being, primarily based in Downers Grove, In poor health., with the 40-hospital Atrium, primarily based in Charlotte, N.C.
The Atrium Well being and Advocate Aurora manufacturers will proceed for use of their respective native markets.
THE LARGER TREND
Advocate Aurora and Atrium announced the merger in Could.
It required the approval of the Illinois Well being Amenities & Providers Assessment Board. Whereas Advocate Aurora owns 9 hospitals and one ambulatory surgical procedure middle requiring state board approval, Atrium Well being has no well being services in Illinois, the state board mentioned.
The Certificate of Need course of required is designed to restrain rising well being care prices by stopping pointless building or modification of well being care services, the Illinois board mentioned. Additionally, the deal have to be in line with the general public curiosity.
The state board had acquired three opposition letters to the merger, together with from the SEIU Healthcare Union.
On the September 17 Illinois Well being Amenities & Providers Assessment Board assembly, members postponed approval to permit the candidates to deal with issues over operational particulars and the controlling pursuits of the brand new entity.
