MercyOne, which is an component of Trinity well being, is exploring a merger with Genesis well being System.
The not-for-revenue purposes signed a letter of intent Wednesday to develop a strategic partnership, the organizations said in a information launch. Genesis well being System, a six-hospital system primarily based in Davenport, Iowa, said in December that it was in search of a associate to increase providers and enhance workforce recruitment.
Genesis courted better than 30 well being purposes, finally deciding on MercyOne, a sixteen-hospital system primarily based in West Des Moines, Iowa. Trinity, the 88-hospital system primarily based in Livonia, Michigan, accomplished its acquisition of MercyOne earlier this month, after it acquired the remaining shares of its joint-working settlement with CommonSpirit well being.
“all by way of our partnership exploration, our dedication was to choose a associate eager to make vital investments in Genesis that can enhance our capacity to develop, thrive and ship extra seamless constructed-in care in our area,” Doug Cropper, president and CEO of Genesis well being System, said inside the information launch.
Operations will not be affected at both well being system by way of the due diligence course of, in accordance with the purposes. information launch. In January, Genesis well being System and MercyOne partnered to reinforce inhabitants well being and menace-primarily based contracting efforts.
Genesis well being System reported $6.5 million in working income on income of $706.7 million in 2021, in contrast with an working lack of $eleven.eight million on income of $648.eight million in 2020. It acquired better than $31 million in COVID-19 discount grants all by way of these two years.
Trinity reported $657.6 million in working income on working income of $20.sixteen billion in 2021, in contrast with a $344.7 million working loss on $18.eighty three billion of working income in 2020. It acquired better than $1.2 billion in COVID-19 discount grants in 2020 and 2021.