Evanston, Ill.-based NorthShore University HealthSystem and Naperville, Ill.-based Edward-Elmhurst Health have finalized their merger.
The merger, announced Jan. 5, creates the third-largest health system in Illinois with nine hospitals, more than 25,000 employees and 300 ambulatory locations. The organization expects its total revenue to exceed $5 billion in the first year of operation.
The combined entity said it is working to establish a new name and brand, but in the meantime it will refer to itself as NorthShore – Edward-Elmhurst Health.
The new combined organization will be led by NorthShore President and CEO J.P. Gallagher and governed by a single board. Mary Lou Mastro, RN, president and CEO of Edward-Elmhurst Health, will be the system's CEO of the southern region.
As part of the deal, both Illinois hospital systems will create two community investment funds and donate $100 million each to their respective communities.
"Our combined organization offers significant promise for our patients, team members and communities. As we deepen our commitment to community connection and expand regional access to leading-edge, expert care in our patients' back yards, we have the opportunity to create something truly differentiated and transformative," said Mr. Gallagher.
"We have so much in common — our values, our cultures and our commitment to our people," said Ms. Mastro. "I am incredibly optimistic that as we bring together two outstanding, award-winning organizations, our future is unlimited and we will be successful."