Presence Health and Ascension Health have officially tied the knot.
Their union creates the largest hospital network in Illinois based on number of hospitals, surpassing Advocate Health Care.
St. Louis-based Ascension, the biggest Catholic hospital system in the U.S., will own Chicago-based Presence, a large Catholic provider with 10 hospitals. But Presence will operate in a joint venture called Amita Health that Ascension shares with Adventist Midwest Health. Amita is based in northwest suburban Arlington Heights.
"As hospitals and health systems throughout the country face unprecedented change, we are also fortunate to have found a partner in Presence Health that shares our commitment to service, stewardship and faith-based care," Amita CEO Mark Frey wrote in an email today to employees and volunteers, announcing that the merger is complete.
Illinois and federal regulators, as well as the Archdiocese of Chicago, approved the deal.
Adding Presence gives Amita $4.5 billion in revenue, 19 hospitals stretching across the city and suburbs, more than 274 outpatient sites, 7,500 doctors and 26,000 associates. The system serves more than 3 million patients throughout Illinois.
Presence and Ascension's merger is the latest among Illinois hospitals. So far, federal and Illinois regulators have blessed a deal across state lines between Downers Grove-based Advocate and Aurora Health Care of Milwaukee. Combined, the systems would create the 10th-largest nonprofit health system in the nation based on revenue, with 27 hospitals and nearly $11 billion in annual revenue. The system spans more than 300 miles, stretching from downstate Normal to Green Bay in northern Wisconsin.
"Presence-Ascension hospital union is complete" originally appeared in Crain's Chicago Business.
