Scottsdale (Ariz.) Healthcare and John C. Lincoln Health Network in Phoenix have signed a definitive agreement to combine, creating a new nonprofit system called Scottsdale Lincoln Health Network.
The transaction is not considered to be a merger since it does not involve the combination of all assets. Scottsdale Lincoln Health Network includes five hospitals, 10,500 employees, 3,700 physicians and an accountable care organization that was originally started by John C. Lincoln.
Tom Sadvary, current president and CEO of Scottsdale Healthcare, will become the CEO of Scottsdale Lincoln Health Network. Rhonda Forsyth, current president and CEO of John C. Lincoln, will become president of the new entity.
The deal, first announced in April, still must receive regulatory approval, and both parties expect it to close by Oct. 1. Financial terms of the transaction were not disclosed.
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