Trinity Health is the sole owner of MercyOne Health System after acquiring CommonSpirit Health's share of the Iowa-based health system.
Five things to know:
1. Livonia, Mich.-based Trinity Health completed the acquisition of MercyOne in September, about five months after entering into an agreement with Chicago-based CommonSpirit Health.
2. The transaction was one of the megadeals announced in the second quarter of this year, according to Kaufman Hall, which defines a mega transaction as one in which the smaller party or seller has annual revenues of more than $1 billion.
3. MercyOne, which was founded in 1998 through a collaboration between Catholic Health Initiatives, now CommonSpirit, and Trinity Health, has annual revenues of $3 billion, according to Kaufman Hall.
4. Trinity Health CEO Mike Slubowski identified several benefits of the transaction. "With MercyOne now fully part of Trinity Health, we are a stronger and more unified system that will strengthen MercyOne's ability to serve our patients, colleagues, and communities," he said.
5. MercyOne includes 18 medical centers, 23 affiliated hospitals and more than 2,000 physicians and advanced practice clinicians. Operating as part of Trinity Health, MercyOne will retain its name and brand.