Atrium Health, Advocate Aurora Health combining
The agreement is now subject to regulatory review.
CHARLOTTE, N.C. (WBTV) - Advocate Aurora Health and Atrium Health are combining, the organizations announced Wednesday.
“The world of healthcare as we know it is changing at warp speed – and it is rapidly becoming more digital, personalized, scientific and complex,” said Eugene A. Woods, president and chief executive officer of Atrium Health, in a prepared statement. “This strategic combination will enable us to deepen our commitments to health equity, create more jobs and opportunities for our teammates and communities, launch new, game-changing innovations and so much more. Together, we will manifest a new future that significantly elevates the care we provide to every hand we hold and every life we touch.”
The organizations cited their complementary strengths, diverse experiences and enhanced capabilities as key enablers to improving lives.
“Together, we can do more, be better and go faster,” said Jim Skogsbergh, president and chief executive officer of Advocate Aurora Health, in a prepared statement. “This combination harnesses our complementary strengths and expertise of our doctors, nurses and teammates to lead health care’s transformation for those we are so proud to serve.”
Highlights of the deal include a $2 billion pledge to disrupt the root causes of health inequities across both rural and urban underserved communities, their commitment to achieving carbon neutrality by 2030 and a pledge to create more than 20,000 new jobs across the communities they serve.
The new organization will have a combined footprint across Illinois, Wisconsin, North Carolina, South Carolina, Georgia and Alabama. It will serve 5.5 million patients, operate more than 1,000 sites of care and 67 hospitals, employ more than 7,600 physicians and nearly 150,000 teammates, and have combined annual revenues of more than $27 billion.
The Advocate Aurora Health and Atrium Health boards of directors unanimously approved the agreement, which is subject to regulatory review.
A board of directors comprising an equal number of members from Advocate Aurora and Atrium Health will govern the enterprise. Brown will chair the board of directors until December 31, 2023, and Richardson will assume leadership for the immediately succeeding two-year term. Skogsbergh and Woods will serve as co-CEOs for the first 18 months, at which point Skogsbergh will retire and Woods will become the sole CEO.
The combined organization will transition to a new brand, Advocate Health, with the Advocate Health and Atrium Health brands continuing to be used in their respective local markets. Wake Forest University School of Medicine will be the academic core of the combined entity.
The new organization will be headquartered in Charlotte, while continuing to maintain a strong organizational presence in Chicago and Milwaukee, including a new institute for health equity located in Milwaukee.
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