University of Maryland Medical System and Saint Agnes Healthcare, both based in Baltimore, have developed a formal affiliation to create a regional, clinically integrated health system.
Through their partnership, UMMS and Saint Agnes, which is part of St. Louis-based Ascension Health, have three main goals: to improve the heath of residents in West Baltimore, strengthen clinical programs without increasing costs and better allocate resources.
"This is a forward-thinking approach that will allow us to remove duplicative costs and investments, improve the delivery of healthcare and the health of our community," said Bonnie Phipps, group operating executive and senior vice president of Ascension Health.
Robert A. Chrencik, president and CEO of UMMS, also showed excitement about the deal. "We look forward to collaborating with Saint Agnes Healthcare on implementing population health management initiatives aimed at improving the health of residents of West Baltimore," he said.
More articles on healthcare industry transactions:
Trinity Health expands network in Connecticut
LifePoint completes purchase of financially troubled Georgia hospital
Tenet completes joint venture with Baylor Scott & White to own 5 Texas hospitals