Mercy Health, Bon Secours to Merge
YOUNGSTOWN, Ohio – Mercy Health, the Cincinnati-based operator of St. Elizabeth Youngstown, St. Elizabeth Boardman and St. Joseph Warren hospitals, announced late Wednesday its intention to merge with Bon Secours Health System, based in Marriottsville, Md.
Mercy and Bon Secours are Catholic health ministries.
Mercy operates 23 hospitals and 26 post-acrute care facilities in Ohio and Kentucky, including senior living communaities, hospice programs and home health agencies. The system employs 33,500.
Bon Secours owns, manages and has joint ventures with 20 hositals and 27 post-acute care facilities in Maryland, Virginia, South Carolina, Kentucky, Florida and New York. This system employs 24,000.
“In the coming months, both parties will work together to finalize a definitive merger agreement, obtain applicable approvals and complete plans to merge,” states the announcement. “While there is no specific date outlined, executives at both Mercy Health and Bon Secours expect to complete this merger by the end of the calendar year.”
Combined the health systems would be the nation’s fifth largest Catholic health system with $8 billion in net operating revenue and $293 million in operating income.
“As consumers grapple with the implications of health care reform in a dynamic marketplace, Mercy Health and Bon Secours share a vision to improve the health of the communities we serve as the low-cost, high-value provider,” said John M. Starcher Jr., Mercy Health and CEO, in a prepared statement. “Working together, our strong faith-based heritage fuels our mutual focus to provide efficient and effective health care for each patient who comes through our doors.”
Added Richard J. Statuto, president and CEO of Bon Secours, in his prepared statement: “The mission, vision, values and geographic service areas of Bon Secours and Mercy Health are remarkably well-aligned and highly complementary.”
Mercy Health is the largest health system in Ohio and was founded I 1986 by the Sisters of Mercy. Humility of Mary Health Partners, which was founded by the Sisters of the Humility of Mary and formerly operated the hospitals here, was absorbed into Mercy Health in 1996.
Bon Secours was founded by the Sisters of Bon Secours.
Copyright 2018 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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