May 19, 2017
Brentwood Home Page
by Cliff Hightower
A Franklin-based healthcare company that operates 17 hospitals across five states is being acquired by a Boston company, the Home Page has learned.
A press release was sent out on Friday morning that IASIS Healthcare has entered into an agreement with Boston-based Steward Healthcare.
“It will be business as usual while all of us work toward a seamless merger of our operations,” said W. Carl Whitmer, president and CEO of IASIS.
The acquisition will mean Steward Healthcare, along with IASIS, will have combined assets of 36 hospitals across the country and total revenues of $8 billion.
IASIS was founded in 1998 and has hospitals in Utah, Texas, Florida, Louisiana, Colorado and Arizona.
“Since its formation nearly 20 years ago, IASIS’s mission has been to deliver high-quality, cost-effective healthcare to our patients and the communities we serve,” Whitmer said. “We have accomplished this goal by investing in our growing hospitals and talented employees and by providing a broad and differentiated set of capabilities and assets to our high-growth, community-focused urban and suburban hospital markets. Steward’s innovative approach to reducing health care cost and improving quality of service will further this mission.”
The press release stated the acquisition means the company will now employ more than 38,000 workers and manage more than 7,500 patient beds.
“Our physician-driven accountable care model focused on keeping patients healthy is transforming the health care industry as this transaction demonstrates,” said Dr. Ralph de la Torre, Chairman and CEO of Steward Health Care. “Our model shows how the industry can successfully shift toward a more cost-effective local, coordinated approach that puts patients first.”
The press release does not address what will happen to the headquarters assets in Franklin, Tenn., which employs approximately 200.