OSF HealthCare signs letter of intent with Presence Health
URBANA, IL – OSF HealthCare and Presence Health have signed a Letter of Intent for OSF HealthCare to take ownership of Presence Covenant Medical Center in Urbana and Presence United Samaritans Medical Center in Danville, Illinois.
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The two organizations are currently finalizing the agreement and will then seek all necessary regulatory and canonical approvals. The transaction is expected to close during the first quarter of calendar year 2018.
“This summer marks 140 years since the founding of our health care Ministry, built on the promise to serve with the greatest care and love. I can think of no more joyous way to celebrate the occasion than by extending the OSF HealthCare mission to Urbana and Danville,” said Sister Judith Ann Duvall, O.S.F., chairperson of the OSF HealthCare board. “This transfer of ownership ensures high-quality Catholic hospital services will continue in these communities we have been called to serve.”
Both systems are collaborating closely to ensure a seamless transition for patients, associates, physicians and other stakeholders.
“For a long time, we have respected OSF HealthCare’s integrity and commitment to their Catholic health care mission, one that closely aligns with Presence Health’s. We also know OSF HealthCare will transition the associates and physicians in a fair manner and maintain continuity in providing high quality patient care,” said Mike Englehart, President and CEO, Presence Health. “The extensive network of OSF HealthCare hospitals and outpatient services throughout the region positions it well to serve the Urbana and Danville communities. For Presence Health, this opportunity allows us to focus on delivering high quality patient care in northern Illinois, while supporting our long-term sustainability to continue our mission.”
Following the transition, Presence Health will continue to provide quality, compassionate care at its ten other hospitals throughout the greater Chicago area.
“OSF HealthCare is looking forward to these two hospitals becoming part of the OSF Ministry. The Urbana and Danville communities are vibrant areas and will help extend the OSF HealthCare Ministry to patients throughout Illinois,” said Kevin Schoeplein, CEO, OSF HealthCare. “We will work closely with the Presence Health team to ensure a smooth transition for the Associates now employed at these hospitals. We look forward to connecting with them and working together for the benefit of our patients. In addition, our OSF HealthCare team plans to reach out to other healthcare providers in these areas, as well as community members, local organizations, and business and municipal leaders to cultivate a collaborative relationship for the health of all in these communities.”
OSF HealthCare is an integrated health system owned and operated by The Sisters of the Third Order of St. Francis, headquartered in Peoria, Illinois. OSF HealthCare employs nearly 19,000 Mission Partners in 115 locations, including 11 hospitals and two colleges of nursing throughout Illinois and Michigan and is affiliated with the University of Illinois. Its physician network employs nearly 1,200 physicians and advanced practice providers. OSF HealthCare offers a broad range of services including large, academic referral centers, smaller critical access hospitals, home care and other clinical programs and services across the care continuum.
Presence Covenant Medical Center in Urbana has 206 beds, with over 700 employees.
Presence United Samaritans Medical Center in Danville has 174 beds, with over 550 employees.
Presence Health is one of the largest Catholic health systems in Illinois, serving over 4 million people in 11 counties. With over 150 sites of compassionate care including 12 hospitals, over 17,700 associates and more than 4,000 medical professionals, Presence Health has annual revenue of $2.6 billion.
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