Methodist Health Services Corp., Peoria, Ill., officially joined the Iowa Health System as its eighth senior affiliate as planned.
Methodist becomes affiliate of Iowa Health
Methodist adds 298-staffed beds to Des Moines-based IHS. Methodist officials tout the expanded resources the deal affords them. They will retain its board of directors, which expands to 21 seats. Methodist's leadership team remains the same.
“This was the right decision at the right time,” said Debbie Simon, interim president and CEO for Methodist. “We chose IHS because its model promotes local control so we can continue to make decisions that are best for our patients, community, physicians and employees.”
The deal between the two not-for-profits won't include payments or assumptions of debt. IHS will commit $175 million to strategic capital incentives, according to a release. Officials said the deal makes IHS the fifth-largest nondenominational health system in the U.S. Methodist includes one hospital, while Iowa owns 10 hospitals and runs 13 under contract.
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