Dignity-CHI merger creates largest nonprofit health system by revenue
0
46
Dive Brief:Dignity Health and Catholic Health Initiatives formally clinched their merger creating a nonprofit health system called CommonSpirit Health. The $29 billion system will serve 21 states with more than 700 care locations and 142 hospitals. The company also includes research, virtual care and home health capabilities.Meanwhile, HCA Healthcare closed its sale of Mission Health, a North Carolina-based six-hospital system, for about $1.5 billion. Dive Insight:The deals are the latest hospital M&A activity as health systems look for opportunities for growth and scale. They also reflect a growing trend of states flexing regulatory muscle in considering how companies can be held accountable after major deals.CommonSpirit Health has about 150,000 employees and 25,000 physicians and advanced practice clinicians. Englewood, Colorado-based CHI CEO Kevin Lofton and San Francisco-based Dignity Health President and CEO Lloyd Dean will both serve as CEOs for the new health system."We didn't...