NorthShore University HealthSystem and Edward-Elmhurst Health have finalized their plans to merge under a parent unit at nine hospitals, the organizations announced today.
The Illinois system will temporarily refer to itself as NorthShore – Edward-Elmhurst Health until a new name and brand is completed.
With 25,000 employees, 6,000 physicians and an expected total revenue for the first year of more than $ 5 billion, NorthShore – Edward-Elmhurst now takes the mantle of the third largest healthcare system in the state.
“Our combined organization offers significant promise to our patients, team members and communities,” said JP Gallagher, President and CEO of NorthShore – Edward-Elmhurst Health, in a statement. “As we deepen our commitment to community connectivity and expand regional access to leading, expert care in our patients’ backyards, we have the opportunity to create something truly differentiated and transformative.”
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First announced in September, the NorthShore – Edward-Elmhurst merger organizes into two regions similar to the original systems: the northern region, consisting of NorthShore’s former locations, and the southern region, operated by Edward-Elmhurst.
While former NorthShore President and CEO Gallagher now holds the reins of the combined system, former Edward-Elmhurst President and CEO Mary Lou Mastro now holds a position as CEO of NorthShore – Edward-Elmhurst Health’s Southern Region.
“We have so much in common – our values, our cultures and our commitment to our people,” Mastro said in a statement. “I am incredibly optimistic that when we bring together two excellent, award-winning organizations, our future is limitless and we will succeed.”
The common system said all existing medical and medical groups would be maintained. Patients will continue to receive their current care services, “while over time benefiting from improved access to additional specialties and subspecialties, a wider range of services and an enhanced experience through advanced solutions seamlessly connected throughout the system,” the system wrote .
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The new partners also highlighted the creation of new local investment funds aimed at supporting the health and economy of their local areas.
“A prominent feature of our merger is the creation of new local investment funds,” Gallagher said. “Each organization has committed $ 100 million to our respective communities. These funds will generate millions of dollars annually to improve health and well-being, promote health equity and support local economic growth.”
Evanston, Illinois-based NorthShore was the larger of the two systems with six hospitals and more than 17,000 team members. The nonprofit had an annual turnover of $ 3.2 billion.
Edward-Elmhurst was formed in 2013 and operates three hospitals located in the western and southwestern suburbs of Chicago. It had 8,500 employees and an annual turnover of over 1 billion.