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NorthShore University HealthSystem and Edward-Elmhurst Health have announced their intention to merge the two healthcare systems under a new parent system, pending regulatory approval.
The organizations have also announced the creation of two community investment funds, with each organization committing $100 million to their respective communities. These funds will each generate millions of dollars in annual interest that will be used to support partnerships with organizations working to enhance community health equity and wellbeing and advance local economic growth.
“NorthShore’s approach is aligned with Edward-Elmhurst in so many ways,” explained Mary Lou Mastro, President and CEO of Edward-Elmhurst Health. “We share values and a vision for the future that gives us a strong foundation to create a needed regional alternative offering vibrant, community-connected healthcare. We look forward to working with our staff and clinical partners in transforming the future of healthcare through their expertise, compassion and commitment.”
When complete, the combined organization will include 25,000 team members, serve an area with over 4.2 million residents and bring together more than 6,000 physicians through an expansive geographic network of nine hospitals and more than 300 ambulatory facilities throughout the region.
NorthShore and Edward-Elmhurst Health expect to close the transaction later this year, pending regulatory review and approval. The new organization, comprised of two regions – NorthShore and Edward-Elmhurst – will be led by J.P. Gallagher as President and CEO and governed by a single board of directors with representation from NorthShore, Edward-Elmhurst, Swedish Hospital and Northwest Community Hospital board members. Mary Lou Mastro will join the executive team of the new organization, maintaining leadership as CEO of the Edward-Elmhurst region.