Beth Israel Deaconess Medical Center, Lahey Health
- Type of deal: Merger
- Announcement date: July 13, 2017
- Close date: March 1, 2019
- Deal value: $4.5 billion in combined annual revenue
- Name of new company: Beth Israel Lahey Health
- Total number of employees of combined company: About 35,000
- Headquarters of combined company: Boston, Massachusetts
- Leadership of combined company: CEO Kevin Tabb, M.D., former CEO of Beth Israel Deaconess system
What's the latest? Beth Israel Deaconess and Lahey Health’s merger had been in the works for more than two years—the systems signed a merger agreement on July 13, 2017, but negotiations had been taking place for several months prior to that—and faced plenty of twists and turns as state officials weighed the competitive risks of consolidating the two systems.
Beth Israel and Lahey’s combination aimed to challenge Partners HealthCare, the largest health system in Massachusetts, but the state’s Health Policy Commission warned that the increasing consolidation could lead to higher healthcare costs for patients in the Bay State.
Attorney General Maura Healey reviewed the merger and got the systems to agree on a seven-year price cap, paving the way for the official launch of the unified system on March 1.