Wednesday, April 10, 2013
The ongoing merger of the Elmhurst and Naperville hospitals creates a question of name-branding.
The announced merger between Edward Health Services and Elmhurst Memorial Healthcare will result in Edward changing its name to Edward-Elmhurst Healthcare before July 1 to oversee the new three-hospital system, Crain's Chicago Business reports. However, according to the paper, the hospitals (Edward Hospital in Naperville and Elmhurst Memorial in Elmhurst, as well as behavioral health facility Linden Oaks in Naperville) have suggested that they will likely operate under an entirely new name once the merger is finished. Steve Gaither, president of marketing agency JB Chicago, which has worked with health-care clients, suggested to Crain's that if Edwards merges again and another hospital name gets added, "now all of a sudden it becomes a law…
Wednesday, April 3, 2013
The merger is on track to be completed this summer, according to information released Wednesday.
Wednesday, April 3
Elmhurst Memorial Healthcare and Edward Hospital and Health Services, based in Naperville, have signed a definitive agreement, which is a major step toward a merger, according to a statement from the two hospitals released today, Wednesday, April 3. The agreement keeps the merger on track to be completed this summer. It includes the terms and conditions of the new system and commits Edward and EMHC to becoming an integrated health system pending review by regulators during the next few months. The merger already has cleared a standard federal antitrust review by the Federal Trade Commission and the Antitrust Division of the Department of Justice. The Illinois Health Facilities and Services Review Board will review the merger in the coming …
Wednesday, March 27, 2013
W. Peter Daniels' resignation, which is considered unusual, according to Crains, comes as the merger between Elmhurst Memorial and Edward Health Service is still underway.
While the merger between Elmhurst Memorial Healthcare and Edward Hospital and Health Service is still being finalized, Elmhurst’s Chief Executive Officer has decided to resign from his position effective March 31. The resignation of W. Peter Daniels is "unusual," considering the binding merger between the two hospitals is still underway, according to a story in Crain’s Chicago Business Tuesday. Health care consultant Elysa Forkesh Cutler told Crain’s executives normally stay on during a merger and sometimes remain on the job until after the merger is complete. The merger was announced in January and would create a three-hospital health system: Edward, Elmhurst Memorial and Linden Oaks at Edward. They have combined revenues of more than $1 …
Wednesday, March 6, 2013
The tax burden would have fallen onto the city's other property owners since EMH has been ruled tax-exempt for 2012 forward.
A vote on the Elmhurst City Council on Monday night removed nearly $700,000 formerly owed to the city and library by Elmhurst Memorial Healthcare before attaining tax-exempt status. The new Elmhurst Memorial Hospital has been declared tax-exempt for 2012 by the state of Illinois, due to its level of charity care. (No ruling has been handed down on the hospital's tax status from 2009-2011, which may require an additional refund to the hospital.) The abatement for now frees Elmhurst property owners from shouldering any of the tax burden from the void in funding.
Tuesday, February 26, 2013
Timing of ruling allows City Council to reverse its tax levy.
A recent ruling that states most of the Elmhurst Memorial Healthcare property is tax-exempt has prompted city staff to request a reversal of part of its 2012 levy, which was approved late last year. The Finance, Council Affairs and Administrative Services Committee heard Monday that on Feb. 15 the state of llinois declared three-quarters of the new EMHC campus tax exempt. The committee will ask the City Council March 5 to approve abatement $650,000 of its levy request, thereby preventing residents' property tax bills from showing an increase. The city actually approved a 1 percent decrease in the levy last year, with the wildcard being the hospital. The city is requesting a total of about $8.7 million in revenue from property taxes. EMHC …
Tuesday, January 29, 2013
Fitch Ratings cites EMHC's "weak operating performance," lagging patient volume and various other problems.
UPDATED: Jan. 30, 11:45 a.m.: Elmhurst Memorial Hospital has released an official statement in response to the information published this week: While early fiscal Year 2013 volumes were lower than anticipated (July in particular), inpatient and outpatient volumes have picked up significantly in recent months, and the health system continues to see growth in spite of the fact that volumes throughout the market are flat or declining. “We will continue to manage through what is a very challenging healthcare environment,” said James Doyle, executive vice president and chief financial officer for Elmhurst Memorial Healthcare. Original story: The financial rating for Elmhurst Memorial Healthcare was again downgraded by Fitch Ratings from BBB+ …
Tuesday, January 22, 2013
Pending state and federal regulatory review, deal could be finalized mid-year.
Elmhurst Memorial Healthcare and Edward Hospital and Health Services on Tuesday announced plans to merge, creating one of the larger integrated health systems in the state. According to a press release, the proposed merger would create a three-hospital health system—Edward, Elmhurst Memorial and Linden Oaks at Edward—with revenues of more than $1 billion and more than 50 locations across a service area of 1.7 million residents. The system would employ nearly 7,600 and have more than 1,680 physicians on staff. Last week, the parent boards of each entity agreed to enter into a letter of intent to merge. Before the merger can be finalized, Edward and Elmhurst Memorial will complete the normal due diligence review process in the coming months…
Tuesday, July 31, 2012
Fitch Ratings gives EMH BBB+ grade based on financial results through March.
Wednesday, May 9, 2012
Students' "increasingly complex medical issues" are among the reasons cited.
Marjie Knabe has been tending to tummy aches at Conrad Fischer Elementary School for 19 years. At Hawthorne Elementary, Barb Aguirre has been helping students with their bumps and bruises for 16 years. On Tuesday, these Elmhurst Unit District 205 health assistants, along with several others, heard first hand they were being replaced with full-time registered nurses from Elmhurst Memorial Hospital. The School Board voted 5-2 to enter into a contract with Elmhurst Memorial to place a registered nurse in each of the district's 13 schools at a cost of $963,000 for 2012-13, which is nearly $38,000 more than the district currently pays for a mix of Elmhurst Hospital-contracted nurses and health assistants. The 10 health assistants in the …
Friday, January 6, 2012
Program closings will result in about 100 layoffs.
Friday, January 6, 2012
About 100 people will be out of work when Elmhurst Memorial Healthcare closes its inpatient and food services at the Berteau campus in February. The healthcare system, as required by Illinois law, has notified the Illinois Department of Commerce of the layoffs and is working with local agencies to help employees find other jobs. The layoffs may be temporary for some employees, who may be transferred into alternate positions within the organization, according to a press release from EMHC. "It is anticipated that several employees will be retained by the health system," the release said. For those who will not, outplacement services are being offered; EMHC is working with the DuPage County Workforce Development Division to help them find …