Emory Healthcare and Saint Joseph's Hospital in Atlanta have announced a partnership that will create the largest, most clinically comprehensive health system in Georgia, according to a release by Emory.
Rather than acquiring 346-bed Saint Joseph's outright, six-hospital Emory will form a joint operating company with the hospital. Emory will hold majority ownership of Saint Joseph's, with a 51-49 percentage split. Saint Joseph's will be involved in governance of the company and retain super-majority voting rights on certain issues critical to its mission and values.
Catholic Health East recently announced it had put Saint Joseph's up for sale. In the Emory deal, the hospital is expected to continue as a Catholic facility sponsored by the Sisters of Mercy. Regulatory review by the Georgia attorney general and the Federal Trade Commission is likely to take at least 4-6 months.
Almost a year ago, Saint Joseph's announced it had signed a letter of intent to form a joint operating company with Piedmont Healthcare in Atlanta, but that plan apparently fizzled.
Read the release on Emory Healthcare and Saint Joseph's Hospital.
Read more coverage of efforts to sell Saint Joseph's Hospital:
- Atlanta's Saint Joseph's Hospital to Sell
- Atlanta Health Systems to Form Joint Operating Company to Improve Care
Rather than acquiring 346-bed Saint Joseph's outright, six-hospital Emory will form a joint operating company with the hospital. Emory will hold majority ownership of Saint Joseph's, with a 51-49 percentage split. Saint Joseph's will be involved in governance of the company and retain super-majority voting rights on certain issues critical to its mission and values.
Catholic Health East recently announced it had put Saint Joseph's up for sale. In the Emory deal, the hospital is expected to continue as a Catholic facility sponsored by the Sisters of Mercy. Regulatory review by the Georgia attorney general and the Federal Trade Commission is likely to take at least 4-6 months.
Almost a year ago, Saint Joseph's announced it had signed a letter of intent to form a joint operating company with Piedmont Healthcare in Atlanta, but that plan apparently fizzled.
Read the release on Emory Healthcare and Saint Joseph's Hospital.
Read more coverage of efforts to sell Saint Joseph's Hospital:
- Atlanta's Saint Joseph's Hospital to Sell
- Atlanta Health Systems to Form Joint Operating Company to Improve Care