Renton, Wash.-based Providence Health & Services and Irvine, Calif.-based St. Joseph Health System have signed a letter of intent to create a new, single organization, the two Catholic systems announced Friday.
The systems say they don't share any markets. Providence, one of the largest not-for-profit systems in the country, boasts 27 hospitals across Alaska, California, Montana, Oregon and Washington, while St. Joseph says it has 16 hospitals across California and Texas, including two affiliates.
Discussions are still in the early stages, so the legal structure of the proposed deal is still not clear. A Providence spokeswoman confirmed that the deal would not be a joint venture, and neither health system is being purchased.
Talks are expected to take place over the next several months.