Advocate Aurora Health, a 28-hospital system with dual headquarters in Milwaukee and Downers Grove, Ill., plans to more than double its annual revenue by 2025, according to the Milwaukee Business Journal.
Under what it is calling its "bold new strategy," the health system plans to meet its goal through mergers and acquisitions of healthcare systems, health insurers and other healthcare products, the company said at the J.P. Morgan Healthcare Conference in San Francisco.
Advocate Aurora, which has about 74,000 employees and more than 2 million patients, expects to end fiscal year 2019 with $12.8 billion in revenue. It established a goal to reach $27 billion by 2025. It also wants to increase the number of patients served to about 10 million.
Advocate Aurora plans to become a "multimarket consolidator," by buying hospitals and health systems. It also wants to consolidate with health plans and introduce new consumer products by creating or acquiring a health and wellness business.
"This bold new strategy will ensure that our organization is well positioned for a strong and healthy future so we can lead the change and fulfill our purpose of helping more people live well," Advocate Aurora spokesman Adam Mesirow told the Milwaukee Business Journal.
Currently, Advocate Aurora Health is the 10th-largest nonprofit health system in the U.S.
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