Trinity Health is continuing its trend of acquisitions, forming a risk-based accountable care partnership with Heritage Provider Network while a provider it acquired in December arranges to absorb a Connecticut-based provider.
Livonia, Michigan-based Trinity Health this week announced a partnership with California-based Heritage Provider Network (HPN), Healthcare Finance News reports. The partnership, called Trinity Health Partners, will operate in multiple markets and link HPN's 37,000 physicians with Trinity's 86 hospitals. As part of the arrangement, the two organizations will establish new models to coordinate several services, including primary care, high-risk clinics, post-acute care and hospitalist services.
"This joint venture allows us to rapidly expand our capabilities to contract with payer-partners for full-risk, capitated arrangements that will result in better health, better care and lower costs in the communities we serve," Richard J. Gilfillan, M.D., president and CEO of Trinity Health, said in a statement. "This approach is a key part of our strategy to build a people-centered health system."
Meanwhile, Connecticut-based Johnson Memorial Medical Center this week announced it will file for Chapter 11 bankruptcy, allowing it to become a subsidiary of Saint Francis Care, which Trinity acquired in December, according to MassLive.
St. Francis is slated to formally become part of the Trinity Health system by the end of the year; if Connecticut approves Saint Francis' asset purchase agreement with Johnson Memorial, it will join Sisters of Providence Health System in a large not-for-profit regional system. Sisters of Providence joined Trinity Health in 2014 as a result of Trinity's merger with Catholic Health East, which made CHE Trinity Health the second-largest non-profit health system in the nation, according to the article.
These are only the latest moves in Trinity's wave of consolidation activity. In August, Trinity announced a joint venture with Ascension Health to improve care coordination and reinvest savings generated by population health management in improving healthcare delivery, FierceHealthcare previously reported.
To learn more:
- read the Healthcare Finance News article
- here's the statement
- check out the MassLive article