Trinity Health acquires MercyOne Health System
Trinity Health will become the sole parent company of MercyOne Health System after an agreement with CommonSpirit Health.
Trinity Health, one of the largest not-for-profit Catholic healthcare systems in the nation, will acquire CommonSpirit Health’s shares of MercyOne. Trinity Health will own all facilities and assets of MercyOne, a regional health system based in Iowa.
MercyOne has operated under a joint agreement between Trinity Health and Catholic Health Initiatives (now CommonSpirit) since 1998. CommonSpirit is a nonprofit Catholic health system created by Catholic Health Initiatives and Dignity Health in February 2019. The health system operates 140 hospitals and more than 1,500 care sites across 21 states.
The decision to have one parent company was made after months of analysis and due diligence by Trinity Health and CommonSpirit. Trinity Health, one of the top health systems by reputation, will bring unified strategies and operations to MercyOne’s care sites, including one set of system services, the company said.
“True to our shared Catholic mission, our goal is to provide high-quality, compassionate care with the best patient/member experience possible. We will accomplish that goal through a holistic approach, with a range of health services and technologies that are fully connected and coordinated,” Mike Slubowski, president and CEO at Trinity Health, said in a press release. “This agreement creates a fully integrated MercyOne to care for more people in a unified way.”
MercyOne serves more than 3.3 million patients per year, with 16 medical centers, 27 affiliate organizations and more than 420 care sites across its system. MercyOne will transfer to Trinity Health’s electronic health record (EHR) system,
“After two decades of successful collaboration, we are immensely proud of our partnership with Trinity Health and our efforts to advance health care statewide,” said Marvin O’Quinn, president and chief operating officer at CommonSpirit Health. “While the current structure has been instrumental in growing our health care services in Iowa, we believe this decision is ultimately what is best for our patients, colleagues and our communities.”
Trinity Health and MercyOne plan to integrate and complete regulatory filings. The transaction is expected to close summer 2022.
“We strongly believe this transition to become a full member of the Trinity Health family will result in a stronger, more cohesive health system better able to offer a convenient and personalized circle of care for all we serve,” said Bob Ritz, president and CEO at MercyOne. “We are delighted to have the agreement in place as we plan for the future of our mission. We are grateful to CommonSpirit for more than 20 years of partnership.”
Related Economics Content:
Cardiologist’s legal fight against fraud conviction may be heard by Supreme Court
PHOTO GALLERY: Duly Health adopts outpatient cardiac CT as a standard of care
7 reasons clinicians are leaving jobs in the era of the great resignation
Cardiology’s average salary climbs to $490k, No. 3 among all specialties
Radiologist pay hits $437,000, good for 8th place among highest earning physician specialists
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."