Tuesday, May 14, 2013
Merger scheduled to be final on July 1.
Edward Hospital and Health Services and Elmhurst Memorial Healthcare are another step closer to a merger Tuesday, after the state agency that regulates healthcare expansion voted unanimously to approve the merger transaction. Edward Hospital and Elmhurst Memorial Healthcare will be under an umbrella nonprofit system overseen by a 13-member community board of trustees, eight initially appointed by Edward and five appointed by Elmhurst Memorial. Edward CEO Pam Davis will be CEO of the new system while Edward’s Vince Pryor will be executive vice president and chief financial officer. The name under which the new system will be known and marketed will be determined in the months after the closing. The merger is scheduled to be finalized…
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 …
Saturday, February 23, 2013
Reboletti wants to disband the Forest Commission, Conroy wants to get rid of commissioners' pay.
State Rep. Dennis Reboletti (R-45th) of Elmhurst last week sponsored HB 2481, which would dissolve the DuPage County Forest Preserve District Board and transfer the responsibilities of the Forest District to the DuPage County Board in 2016. In response late Friday, the DuPage Legislative Committee scheduled a special meeting for Tuesday, Feb. 26, to discuss the bill. "Before legislation of this magnitude is voted on in Springfield, I think it is important that all sides of the issue are explored," said Legislative Committee Chairman JR McBride in a prepared statement. "While I am open to the idea of a study to analyze a possible merger, I do not believe this bill has any merit until due diligence has been given on the subject." Reboletti …
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…
Friday, October 28, 2011
Merger would provide a financial boost to EMHC, patients would have more access to clinical trials, according to sources.
Northwestern Memorial Healthcare and Elmhurst Memorial Healthcare announced Thursday they are exploring a merger. Discussions, which could take several months, are in the early stages. But the move would help Northwestern expand its presence in the western suburbs, and it would strengthen the financial position of EMHC, which is facing hundreds of millions of dollars in debt, according to a Thursday article in Crain's Chicago Business. Northwestern is financially strong, with net revenue for 2010 at $1.6 billion, up from $1.4 billon in fiscal 2009, according to audited financial reports. EMHC's debt is due to construction of its new 866,000-square-foot hospital on Brush Hill Road, which opened in June. A release issued by EMHC does not …