Trinity Health will add three-hospital St. Francis Care to its portfolio to expand its footprint in New England.
Trinity said it will invest $275 million in Hartford, Conn.-based St. Francis in the first five years after the deal closes, which is expected to occur in late 2015.
St. Francis will become part of a regional health system under the Trinity umbrella that will be formed with Trinity's Sisters of Providence Health System in Springfield, Mass.
Trinity CEO Dr. Richard Gilfillan, who has put an ambitious population-health strategy in place at Trinity for what he calls its transition to a “people-centered health system,” said St. Francis is already working on a number of innovative programs for conditions such as multiple sclerosis and cardiovascular disease.
St. Francis' current CEO, Christopher Dadlez, will lead the newly formed regional entity. The system includes St. Francis' 569-bed flagship hospital, 72-bed Johnson Memorial Hospital and 30-bed Mount Sinai Rehabilitation Hospital. The three facilities will join Providence's 301-bed Mercy Medical Center as well as its behavioral health and continuing-care network.
Over the past five years, St. Francis has been moving to a value-based care model through a number of initiatives, including organizing its physicians under a single umbrella so it could move them onto an electronic health-record system, as well as coordinate purchases for them.