Rockford (Ill.) Health System has ended takeover discussions with suitor Cadence Health, a two-hospital system in Winfield, Ill.
The two systems signed a letter of intent in November. Spokespeople for both organizations declined to comment on why the deal fell apart.
“In many respects, we are like-minded organizations,” Rockford President and CEO Gary Kaatz said in a news release. “However, as we moved forward in our discussions, it became clear that we would not be able to arrive at an agreement that would provide mutual benefit to both the Rockford community and to the Cadence organization. After deeper review, we recognized that our strategic imperatives did not align.”