Elmhurst Memorial, Edward Hospital sign merger agreement
Edward Hospital & Health Services and Elmhurst Memorial Healthcare announced April 3 that the two healthcare providers have signed a definitive agreement, a major step toward a merger to become one of the larger integrated health systems in the state.
Signing of the agreement keeps the merger on track to be completed this summer, officials said.
The definitive agreement is a contract that includes the terms and conditions of the new system. The agreement commits Edward and Elmhurst Memorial to becoming an integrated health system pending review of certain aspects of the merger by regulators during the next few months.
The merger has already cleared a standard federal antitrust review by the Federal Trade Commission and the Antitrust Division of the Department of Justice. The Illinois Health Facilities and Services Review Board will review the merger in the coming months, according to a news release.
The merger creates a three-hospital health system – Edward, Elmhurst Memorial and Linden Oaks at Edward – with revenues of more than $1 billion and more than 50 locations across a service area of 1.7 million residents. The system would employ nearly 7,700 and have more than 1,680 physicians on staff.
According to the release, Edward and Elmhurst Memorial leaders have started working on transition plans for the new health system that, upon completion of the merger, will:
• Improve coordination of care and quality in the region as Edward and Elmhurst Memorial medical staff share best practices and clinical protocols.
• Build upon relationships with affiliated and independent physicians. Edward Medical Group and Elmhurst Memorial’s affiliated practices, including Elmhurst Clinic, LLC, will remain of key strategic importance as will hundreds of independent physicians at both entities including DuPage Medical Group practitioners. Partnerships with other major physician groups, such as Advocate Midwest Heart Specialists, will continue.
• Improve access to clinical services by growing service offerings and locations throughout the region.
• Create opportunities for efficiency in lowering healthcare costs.
Founded in 1926, Elmhurst Memorial Hospital today is Elmhurst Memorial Healthcare, a comprehensive health system with multiple locations.
In June 2011, Elmhurst Memorial Healthcare opened a new, 866,000-square-foot, acute care hospital. Elmhurst Memorial is one of 20 acute care hospitals worldwide designated as a Planetree patient-centered healthcare organization.
Edward Hospital & Health Services is a full-service, regional healthcare provider offering access to complex medical specialties and innovative programming. Founded in 1907 as a tuberculosis sanitorium and converted to a community hospital in 1955, Edward Hospital in Naperville has 309 private patient rooms and 4,700 employees, including 1,350 nurses and a medical staff of 1,000 physicians comprised of independent members of the medical staff, employed physicians and independent contractors.
Linden Oaks at Edward is a 108-bed behavioral health hospital on Edward’s Naperville campus with outpatient locations in Naperville, Woodridge, St. Charles, Plainfield and Yorkville.