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| St. John's Regional Medical Center |
| Sisters of Mercy Health System and Catholic Health Initiatives Sign Letter of Intent for Proposed Tr |
| Date : - 01/05/2009 |
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JOPLIN, MO (May 1, 2009) – The Sisters of Mercy Health System (Mercy) and Catholic Health Initiatives announced today that the two health systems have signed a letter of intent to formally explore a proposed transfer of sponsorship of St. John’s Regional Medical Center in Joplin to Mercy.
“We are delighted by the strong interest that the Sisters of Mercy Health System has shown and look forward to exploring a possible new relationship,” said Dick Weber, chair of St. John’s board of directors.
The parties still must conduct due diligence, negotiate a final or “definitive” agreement and secure various approvals before the transfer would be completed. These negotiations are expected to be completed in the next several months.
“For many months, St. John’s has been working to strengthen our internal operations and services to the community through our Mission Forward initiative,” said George Caralis, interim chief executive officer of St. John’s. “As part of this process, we’ve also been evaluating various strategic options for the future, including potential relationships with other providers. A letter of intent is a first step that means that Mercy, St. John’s and Catholic Health Initiatives will begin to get to know each other and actively engage in formal discussions.”
“The Sisters of Mercy Health System has a strong history of service in communities surrounding Joplin, and a relationship with St. John’s would be a natural extension for Mercy in terms of our geographic presence,” said Lynn Britton, Mercy president and CEO. “More importantly, St. John’s and Mercy share a rich history as health ministries that were founded by the Sisters of Mercy and that continue to be shaped by our faith-based heritage. With this in mind, we are pleased to be invited to continue the process of determining a potential future relationship between our two organizations.”
Specific details of the letter of intent cannot be disclosed at this time due to the confidentiality of the discussions.
St. John’s Regional Medical Center, Joplin, Mo., has been leading the way in health care for more than 100 years. St. John’s is a 367-bed facility, serving 19 counties in Missouri, Oklahoma, Kansas and Arkansas. It provides state-of-the-art health care services, specializing in cardiology, orthopedics, neurosciences and oncology. St. John’s earned the Gold Seal of Approval from The Joint Commission, received three 100 Top Hospital Awards (2006) from Thomson Healthcare, and was rated in the top 5 percent nationally by HealthGrades for patient safety (2008) and top 10 percent for
The Sisters of Mercy Health System (Mercy) operates hospitals, physician practices, outpatient clinics, health plans and related health and human services in a seven-state area including Arkansas, Kansas, Louisiana, Mississippi, Missouri, Oklahoma and Texas. Its members include 19 acute care hospitals providing more than 4,000 licensed beds, two heart hospitals, a managed care subsidiary (Mercy Health Plans), physician practices, outpatient care facilities, home health programs, skilled nursing services and long-term care facilities. Services are provided by approximately 31,000 co-workers and 4,600 physicians who are employed or practice at Mercy facilities. Mercy is the 9th largest Catholic healthcare system in the U.S. based on net patient service revenue. It is sponsored by Mercy Health Ministry, an entity established by the Catholic Church to oversee the healing ministry and Catholic identity of Mercy.
Catholic Health Initiatives is a national nonprofit health organization with headquarters in Denver, Colo., consisting of 78 hospitals, 40 long-term care, assisted and independent living and residential facilities, and two community health services organizations located in 20 states. Together, these facilities provided $536 million in charity care and community benefit in the 2008 fiscal year, including services for the poor, free clinics, education and research. Catholic Health Initiatives represents more than 65,000 employees and consolidated annual operating revenues of $8.2 billion. It ranks as the nation’s second largest Catholic health |
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| Reference : - www.stj.com |
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