Presence Health to become part of AMITA Health

Henrietta Strickland
August 23, 2017

The nation's largest not-for-profit health system Ascension has signed a nonbinding letter of intent to acquire Presence Health Network, a fiscally struggling IL system.

Ascension, which is based in Edmundson, and Presence have signed a non-binding letter of intent for Presence to join Ascension's existing joint venture in Illinois, AMITA Health.

Presence Health would add its medical centers, outpatient facilities and other sites of care to the integrated health system of AMITA Health. Get twice-daily updates on what the St. Louis business community is talking about.

Presence Life Connections' skilled nursing and assisted and independent living facilities would join Ascension Living, Ascension's senior care subsidiary, the companies said in a news release.

Ascension and Presence did not disclose financial details, but the deal is the latest in a string of M&A healthcare activity.

So far this year, healthcare M&A activity has been characterized as having more megadeals.

Presence Health was created by the merger of Provena Health and Resurrection Health Care in 2011.

The press release noted that the acquisition would help Ascension manage the health of large populations more efficiently and effectively, although regulators, which still must achieve the deal, will weigh in on whether the combination would in fact result in more efficient and effective healthcare delivery in the areas affected. Adventist Midwest is part of Adventist Health System, a nine-state, 45-hospital health system based in Altamonte Springs, Florida.

Catholic hospital system Presence has 11 hospitals stretching from Evanston to Urbana, though it recently announced plans to sell its Danville and Urbana hospitals to Peoria-based OSF HealthCare.

"Joining Ascension and Amita Health is a natural evolution for Presence Health, especially given the mutual respect between our systems and our shared mission, vision and values to provide quality, faith-based care", Michael Englehart, president and chief executive officer of Presence Health, said in a statement.

Other reports by Click Lancashire

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