With an estimated $1.1 billion investment, the plan is to build at least one new hospital and open up to six new community health centers that would expand access to preventive services and address social determinants of health.

The U.S. Supreme Court declined to fast-track consideration of a case that could decide the fate of the Affordable Care Act, but California Attorney General Xavier Becerra is still optimistic.

The spinoff's mission to lower the cost of generic pharmacy drugs is notably different from Civica's, which is pursuing rights to manufacture generic drugs often used in hospitals that are subject to shortages and price spikes.

Chicago-based CommonSpirit Health announced longtime CEO Kevin Lofton will retire at the end of June. Lofton has served as co-CEO of the health system since its Feb. 1, 2019 merger with Dignity Health.