Catholic-Dignity Merger To Forge Nonprofit Health Giant

08 December, 2017, 10:08 | Author: Regina Silva
  • CEO Lloyd Dean shown here at the Dignity Health headquarters in San Francisco will be co-CEO of the large new health system formed by the planned merger of Dignity Health and Catholic Health Initiatives of Colorado

After a year of negotiations, Dignity Health and Catholic Health Initiatives have signed a definitive agreement to merge operations.

The combined health system will include more than 700 sites and 139 hospitals across 28 states.

To view the full article, register now. Individual facilities will continue to operate under their existing names, at least for the foreseeable future.

The merger is not expected to impact local employees, given there is no geographical overlap between the two combining organizations.

Nationally, CHI CEO Kevin Lofton and Dignity CEO Lloyd Dean will serve as co-CEOs, each with specific and independent responsibilities and decision-making authority.

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.

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S&P said it will likely update CHI and Dignity Health's respective ratings before the merger deal closes.

Advancement of digital technologies like stroke robots and Google Glass.

Dignity said the new system will keep its commitment to supporting communities through charity care, grants, and loans to help create healthier communities. It is being billed as a merger of equals, with neither organization acquiring the other.

"The new system will be guided by our shared mission that emphasizes social justice for all people and will work to ensure that those values are part of the local and national health care environment", Dignity said.

Catholic Health Initiatives' headquarters are based in Englewood, Colorado, and Dignity Health is based out of San Francisco. The program's objective is to be available at almost 150 CHI and Dignity Health and care centers across the USA, serving approximately 12 million patients annually, Dignity said.

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