Aurora, Colo.-based UCHealth and Parkview Health System on Jan. 24 signed an agreement to merge in mid-2023.
UCHealth, a 12-hospital system, has agreed to invest almost $200 million into Pueblo, Colo.-based Parkview and the community, including staff recruitment efforts; supporting nurses and clinical education programs; upgrading facilities, equipment and technology; and helping stabilize Parkview's finances.
Parkview operates as an independent, nonprofit for acute healthcare and behavioral health specialty services. It has about 3,000 employees, with more than 370 physicians on its medical staff. The system's Parkview Medical Center is licensed for 350 acute-care beds.
Parkview already uses UCHealth's electronic medical record and other IT systems. The health systems will maintain a local board of directors for Parkview, predominantly consisting of Pueblo residents. Parkview's staff, providers and leaders will retain their positions.
The transaction, which is subject to regulatory approvals, is expected to be completed in the middle of next year.
"Helping residents of Colorado access the care they need, close to home, is one of UCHealth’s strategic priorities," UCHealth President and CEO Elizabeth Concordia said in a news release. "Together, Parkview and UCHealth will support patients in Pueblo and throughout southern Colorado while also expanding access to advanced treatments and clinical trials."