LIVONIA — Hartford, Conn.-based Saint Francis Care Inc. will partner with Trinity Health of Livonia under the terms of a definitive agreement, the two systems announced today.
Once the partnership is complete in late 2015, Trinity Health will invest at least $275 million over the next five years with capital projects in the New England region.
“Our focus on building a people-centered health system fits very well with Saint Francis Care’s strategy, capabilities, and commitment to their communities,” says Dr. Richard J. Gilfillan, president and CEO of Trinity Health. “We look forward to Saint Francis Care joining Trinity Health and working together to better serve people across the region.”
The pact outlines the creation of a nonprofit regional health system that includes Saint Francis Care and the Sisters of Providence Health System in Springfield, Mass., already a member of Trinity Health. Gilfillan says the new regional health system will embody both organizations’ shared commitments to Catholic values and high-quality, high-value health care.
While Christopher Dadlez, president and CEO, Saint Francis Care will lead the new regional system, Daniel P. Moen will continue to serve as president and CEO, Sisters of Providence Health System, and play a role in the formation of the new partnership.
Dadlez says the merger is expected to provide better care coordination for people in New England, as well as provide models that could be shared across the Trinity Health system.
“A strategic partnership with Saint Francis Care enhances our leadership in the Hartford and Springfield regions while bringing some significant population health management expertise into our system,” said Scott Nordlund, executive vice president, Growth, Strategy and Innovation, Trinity Health. “We look forward to this merger that will expand services for people and communities in in the region.
Nordlund say one benefit to Saint Francis Care will be Trinity Health’s outstanding credit rating, which will significantly improve its access to capital and cost of financing.
The announcement comes after eight months of discussions and due diligence efforts to create a strategic partnership that would greatly enhance care in New England. The agreement has been approved by the Archdiocese of Hartford, which sponsors Saint Francis Care, and is subject to further approvals required by Canon Law, and to regulatory approvals from state and federal agencies.