Ascension Health is the name of the new system being created by the merger of Daughters of Charity National Health System and Ann Arbor, Mich.-based Sisters of St. Joseph Health System, MODERN HEALTHCARE has learned.
The new name is scheduled to be announced publicly this week.
The co-sponsorship deal, which becomes effective Nov. 1, will create the country's largest Roman Catholic hospital system.
Ascension will have $5.6 billion in total net revenues and 73 owned or affiliated hospitals in 15 states and the District of Columbia. The new system will have more than 87,000 employees.
Denver-based Catholic Health Initiatives would be in the No. 2 spot, with $5 billion in annual revenues and 70 hospitals.
While Ascension will operate with a single bottom line, its religious congregations are not giving up sponsorship, or ownership, of their historic assets (June 21, p. 78).
The St. Louis-based Daughters brings 52 hospitals to the deal, while the Sisters of St. Joseph owns or is affiliated with 21 hospitals, according to officials from both systems.
Ascension will be based in St. Louis and will have five religious sponsors: four provinces of the Daughters of Charity, which sponsor the Daughters system, and the Sisters of St. Joseph of Nazareth, Mich.
Don Brennan, president and chief executive officer of the Daughters system, will be at the helm as Ascension's first president and CEO.
John Lore, president and CEO of the Sisters of St. Joseph system, will be Ascension's executive vice president of system development and lead executive for the Great Lakes division.