Emory Healthcare, St. Joseph's Hospital form partnership
Emory Healthcare and St. Joseph’s Hospital in Atlanta have joined forces, creating the largest health system in Georgia with major hospital campuses in DeKalb County, Johns Creek, midtown Atlanta and Sandy Springs.
The arrangement gives Emory Healthcare majority ownership of St. Joseph’s. St. Joseph’s will continue to be involved in governing decision, officials said, including having majority voting rights on issues critical to the hospital.
"At our cores, both Emory Healthcare and Saint Joseph's Hospital share compatible values and a common purpose: To provide outstanding healthcare to north Georgia and the state," said John Fox, president and CEO of Emory Healthcare, in a statement. "Combining the excellence of our physicians, skill and experience of our clinical staffs and promise of our research capabilities only strengthens what we offer patients."
"Similar values and mission statements outline our shared commitment to delivering compassionate, innovative care with integrity and excellence,” added Paul Johnson, CEO of Saint Joseph's Hospital. “While complementing each other well, each organization brings unique features to the (partnership) that will enable us to better care for our community, while positioning us to meet the growing challenges of healthcare and industry reform.,"
St. Joseph’s Hospital, founded in 1880 by the Sisters of Mercy, is 410-bed acute-care facility considered one of the top specialty-referral hospitals in the southeast. It is a member of Catholic Health East.
Emory Healthcare is part of Emory University’s academic health science and service center, which includes schools of medicine, nursing and public health, a primate research center and a cancer center.
The financial details of the partnership are not being publicly disclosed at this time. The deal is subject to review by the Catholic Archbishop of Atlanta and other Catholic entities. The hospital intends to continue as a Catholic facility.
The two entities will submit formation documents to the state’s attorney general and the Federal Trade Commission. Regulatory reviews are expected to take four to six months at a minimum.
