Two Twin Cities-area healthcare systems signed a letter of intent to merge, giving one organization control over five hospitals, a 1,500-physician multispeciality group practice, a 1.4 million-member health plan and a Medicare Pioneer accountable care organization. The merger between HealthPartners, based in Bloomington, Minn., and Park Nicollet Health Services, based in nearby St. Louis Park, Minn., is expected to close Jan. 1, 2013, pending regulatory approval.
Late News: HealthPartners, Park Nicollet sign deal to merge
Though the systems did not dub the deal a merger, the news release said the transaction would “unite the non-profit organizations under a combined, consumer-governed board of directors.” No money is changing hands in the deal, they said. HealthPartners President and CEO Mary Brainerd will become CEO of the new organization, which will be called HealthPartners and be based in Bloomington. Dr. David Abelson, president and CEO of Park Nicollet, will head the Park Nicollet HealthPartners Care Group, the new organization's care delivery system.
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