Venerable Atlanta providers Emory Healthcare and St. Joseph's Hospital have entered into an alignment agreement, creating the largest healthcare system in Georgia, report Healthcare Finance News and the Atlanta Business Chronicle.
The deal creates a system with five large acute-care facilities in Atlanta and the outlying suburbs. The financial details are not being disclosed.
Saint Joseph's has been struggling financially and had been seeking a partner. It and Emory had announced an affiliation last year, but called it off in October, saying it was too financially complex.
"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 Emory Healthcare CEO John Fox. "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."
Emory is affiliated with Emory University, while Saint Joseph's is an affiliate of Catholic Healthcare East. Saint Joseph's will keep its Catholic affiliation, officials said.
The deal is subject to regulatory reviews by Georgia's attorney general and the Federal Trade Commission, as well as the Catholic Archbishop of Atlanta and other Catholic entities.
For more:
- read the Healthcare Finance News article
- read the Atlanta Business Chronicle article