State Board Approves Edward-Elmhurst Memorial Merger Transaction
(Naperville, Ill. and Elmhurst, Ill. – May 14, 2013) – Edward Hospital & Health Services and Elmhurst Memorial Healthcare are another step closer to a merger today after the state agency that regulates healthcare expansion voted unanimously to approve the merger transaction.
Edward Hospital and Elmhurst Memorial Healthcare will be under an umbrella not-for-profit system overseen by a 13-member community Board of Trustees, eight initially appointed by Edward and five appointed by Elmhurst Memorial. Edward CEO Pam Davis will be CEO of the new system while Edward’s Vince Pryor will be Executive Vice President, Chief Financial Officer.
The name under which the new system will be known and marketed will be determined in the months after the closing.
The merger is scheduled to be finalized July 1 creating one of the larger integrated health systems and one of the larger employers in the state. The merger will consist of a three-hospital health system – Edward, Elmhurst Memorial and Linden Oaks at Edward – with revenues of more than $1 billion and more than 50 locations across a service area of 1.7 million residents. The system would employ nearly 7,700 and have more than 1,680 physicians on staff.
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