Steward Health Care System LLC (Steward) has completed a previously announced agreement to merge with IASIS Healthcare LLC (IASIS). As the sole operator of the newly merged company, Steward will oversee 36 individual hospitals across ten states, managed care operations in Arizona, Utah, and Massachusetts, and has projected revenues of almost $8 billion in 2018, the first full-year of the consolidated company.
In addition, Steward becomes the largest private hospital operator in the U.S. with approximately 37,000 employees, 1,400 employed physicians, and 4,700 integrated network physicians.
“This merger enables Steward to expand our successful, physician-led, integrated care model. We look forward to providing the highest quality of care through keeping patients healthy and being available with advanced care in their community, should they need it,” said Dr. Ralph de la Torre, Chairman and CEO of Steward Health Care. “Steward will be introducing patients, physicians, and employees in six new states to our innovative programs and community commitment model.”
With this acquisition Steward also expands its related businesses including a managed risk platform, Health Choice, which delivers managed care and health insurance services to more than 680,000 patients. The total number of covered lives within Steward’s integrated care network and these insurance products is more than 1.1 million, with paneled lives estimated at 2.5 million.
The company said its integrated model focuses on the total patient and aims to keep patients healthy with its hospitals regularly achieving the highest ratings of quality and safety. Steward pioneered its health care model in Massachusetts, where it said it turned around some of the state’s most struggling hospitals and created a thriving health system that improved outcomes, lowered costs, and established lasting partnerships with local communities.
In the region, the transaction also included the Glenwood Regional Medical Center in West Monroe, Louisiana.
In a letter to Hope city officials, Steward says "it looks forward to remaining a leading employer in Hope and being a major taxpayer in the community." The company said it wants to be an active and vital partner in the community, and looks forward to continuing Wadley Regional Medical Center at Hope's support of community programs, and to be the best neighbor they can be. Steward says its excited to welcome Wadley at Hope to the Steward Family and wants to ensure a smooth transition for all their employees and patients
special thanks to Saratoga Arkansas Digest