Intermountain Healthcare and SCL Health merge to create a $ 14 billion system

Utah-based Intermountain Healthcare and Colorado-based SCL Health have announced plans to merge, creating an approximately $ 14 billion system spanning six states.

If the deal goes through, the combined health system will operate 33 hospitals and 385 clinics and employ 58,000 people. The combined company, headquartered in Salt Lake City, will have offices in not only Utah and Colorado, but also Idaho, Nevada, Montana and Kansas. The new company retains the charitable status of its incorporation systems.

Dr. Marc Harrison, President and CEO of Intermountain, will lead the merged system, while Lydia Jumonville, President and CEO of SCL Health, will remain in her current position and serve as a member of the newly integrated board during the proposed two-year integration.

“American healthcare needs to accelerate the evolution of health and population value, and this merger will quickly advance that cause across a broader region,” Harrison said in a press release.

SCL Health is brought under the Intermountain brand. Intermountain is much larger than SCL, with 25 hospitals versus eight of the latter.

But both companies generated billions in revenue last year despite the uncertainties caused by the Covid-19 pandemic, with Intermountain reporting $ 7.7 billion and SCL reporting revenue of about $ 2.9 billion .

An interesting feature of the merger is that it will bring together a religious organization, SCL, and a secular entity, Intermountain, which begs the question of whether the former will give up its Catholic identity.

However, SCL’s seven Catholic hospitals will keep their “distinctive” Catholic names and continue to operate in accordance with their current beliefs, Jumonville said in a virtual press conference Thursday.

“Intermountain hugged us to continue to maintain our catholicity,” she said. “All Catholic hospitals will remain Catholic … SCL will remain Catholic.”

The final agreement between the two organizations is expected to be finalized and signed by the end of 2021. The merger is expected to be completed in early 2022, subject to all approvals.

This is the second merger that Intermountain has attempted in the past year. Last October, the company announced plans to merge with Sanford Health of South Dakota. But the merger talks halted in December shortly after former Sanford Health President and CEO Kelby Krabbenhoft left the role.

Photo: mikdam, Getty Images


close






Don’t miss these tips!

We don’t spam! Read our privacy policy for more info.

adminhttps://mugenspace.com
You may contact us at admin@mugenspace.com for news feature or any other business enquiries

Latest articles

34 top toys for preschoolers

In partnership with Official Play Partner 2021 Toy Guide: Preschool Top Preschool toys of 2021 ...

23andMe to buy Lemonaid online pharmacy for $ 400 million

23andMe is buying another direct-to-consumer startup that wants to build on its genetic services with telemedicine. The company closed a deal to buy...

New Patches Resolve AMD Issues in Windows 11

This site may earn affiliate commissions from the links on this page. Terms of use. ...

Beyond Meat shares hit 52-week lows after lowering sales outlook for third quarter

Beyond Meat "Beyond Burger" patties made from plant-based meat substitutes are on sale on a shelf in New York City on November 15, 2019.Angela...

Categories

Related articles

Leave a reply

Please enter your comment!
Please enter your name here