Edward and Elmhurst Memorial sign agreement, take major step toward merger
(Naperville, Ill. and Elmhurst, Ill. – April 2, 2013) – Edward Hospital & Health Services and Elmhurst Memorial Healthcare today announced that the two healthcare providers have signed a definitive agreement, a major step toward a merger to become one of the larger integrated health systems in the state. Signing of the agreement keeps the merger on track to be completed this summer.
The definitive agreement is a contract that includes the terms and conditions of the new system. The agreement commits Edward and Elmhurst Memorial to becoming an integrated health system pending review of certain aspects of the merger by regulators during the next few months. The merger has already cleared a standard federal antitrust review by the Federal Trade Commission and the Antitrust Division of the Department of Justice. The Illinois Health Facilities and Services Review Board will review the merger in the coming months.
The merger will create 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.
Edward and Elmhurst Memorial leaders have begun working on transition plans for the new health system that, upon completion of the merger, will:
- Improve coordination of care and qualityin the region as Edward and Elmhurst Memorial medical staff share best practices and clinical protocols.
- Build upon our relationships with affiliated and independent physicians. Edward Medical Group and Elmhurst Memorial’s affiliated practices, including Elmhurst Clinic, LLC, will remain of key strategic importance as will hundreds of independent physicians at both entities including DuPage Medical Group practitioners. We also plan to continue partnerships with other major physician groups such as Advocate Midwest Heart Specialists which has a large presence at Elmhurst and Edward.
- Improve access to clinical services. While Edward and Elmhurst each have a broad range of high-quality service offerings, we plan to complement and grow our service offerings and locations throughout the region in an efficient manner that best serves the needs of the community.
- Create opportunities for efficiency. With shrinking reimbursement for hospitals, healthcare reform demands that we become more efficient to lower healthcare costs.
Founded in 1926, Elmhurst Memorial Hospital today is Elmhurst Memorial Healthcare, a comprehensive health system with multiple locations and services designed to enhance the health of the communities and customers served. In June 2011, Elmhurst Memorial Healthcare opened a new, 866,000-square-foot, state-of-the-art acute care hospital. With 259 private patient rooms, a modern emergency department and technologically advanced surgical suites, Elmhurst Memorial Hospital incorporates the latest trends in healthcare facility design and is home to some of the area’s most advanced technology. Elmhurst Memorial is one of 20 acute care hospitals worldwide designated as a Planetree patient-centered healthcare organization. For more information about Elmhurst Memorial Healthcare visit www.emhc.org.
Edward Hospital & Health Services is a full-service, regional healthcare provider offering access to complex medical specialties and innovative programming. Founded in 1907 as a tuberculosis sanitorium and converted to a community hospital in 1955, Edward Hospital in Naperville has 309 private patient rooms and 4,700 employees, including 1,350 nurses and a medical staff of 1,000 physicians comprised of independent members of the medical staff, employed physicians and independent contractors. Edward Plainfield at 127th and Van Dyke continues to grow and saw more than 100,000 patient visits last year for a wide variety of services. Edward is the number one hospital for overall quality in Chicago’s west and southwest suburbs and number one in all key service lines in the region according to a 2012 survey by the National Research Corporation. Edward was re-designated as a Magnet hospital for nursing excellence in 2010 after receiving its original designation in 2005. For more information about Edward, visit www.edward.org.
Linden Oaks at Edward is a 108-bed behavioral health hospital on Edward’s Naperville campus with outpatient locations in Naperville, Plainfield, St. Charles, Woodridge and Yorkville. For more information about Linden Oaks, visit www.edward.org/lindenoaks.