Alexian Brothers Health System (ABHS), a member of Ascension Health, and Adventist Midwest Health have announced the signing of a non-binding letter of intent to form a joint operating company (JOC). The letter calls for ABHS and Adventist to pursue a possible affiliation under which four Adventist hospitals and five ABHS hospitals in suburban Chicago will join forces to create an integrated healthcare system.
The JOC will allow the two separate organizations to preserve their respective religious identities and mission priorities, and to integrate their operations while maintaining separate ownership of their assets. The affiliation will result in a notably diverse physician provider network, bringing together more than 3,000 physicians to offer better coordinated, more comprehensive care for patients in the Chicago area. ABHS will remain part of Ascension Health.
By affiliating with Adventist Midwest Health, we believe we will enhance the high-quality care ABHS currently provides by extending our reach and strengthening our position in the highly competitive Chicago healthcare market. At the same time, we will be taking another important step toward ensuring the long-term viability of the Alexian Brothers’ 800-year healing mission,” said Mark A. Frey, President and Chief Executive Officer of Alexian Brothers Health System. “This affiliation is also an example of Ascension Health’s strategic commitment to developing regional clinically integrated systems of care.
The Letter of Intent is expected to lead to a Definitive Agreement, which will be subject to a due diligence process and review and approval from appropriate regulatory bodies. As approvals are obtained, ABHS and Adventist anticipate the partnership will be complete by early fall.
