3/26/2023 0 Comments Advocate aurora healthAny refinancing would be dependent on market conditions, management considerations and other factors. Neither Advocate Aurora Health nor Atrium Health has agreed to assume any liability for or otherwise guarantee the other organization’s debt as part of the transaction. No assets will be transferred as part of the combination. Existing assets will remain in each of the respective states. The entities are creating a joint operating company to be known as Advocate Health. The new organization will be headquartered in Charlotte, while continuing to maintain a strong organizational presence in Chicago and Milwaukee, including a new institute for health equity located in Milwaukee.Ībout Advocate Aurora Health + Atrium Health Wake Forest University School of Medicine will be the academic core of the combined entity. The combined organization will transition to a new brand, Advocate Health, with the Advocate Health and Atrium Health brands continuing to be used in their respective local markets. Skogsbergh and Woods will serve as co- CEOs for the first 18 months, at which point Skogsbergh will retire and Woods will become the sole CEO. Brown will chair the board of directors until December 31, 2023, and Richardson will assume leadership for the immediately succeeding two-year term. “We share a bold vision for the future as we aspire to create a consumer-first system aimed at improving the lives of individuals across the diverse communities we serve.”Ī board of directors comprising an equal number of members from Advocate Aurora and Atrium Health will govern the enterprise. Brown III, chair of Atrium Health’s board of directors. “Advocate Aurora Health has a well-earned reputation as a national leader in diversity, equity and inclusion, as well as its value-based approach to care that has led to better outcomes and more affordable health care,” said Edward J. “Given our combined reach, coupled with our talented physicians, nurses and staff, we are uniquely positioned to lead health care’s transformation and create a platform for innovation.” “We’ve long admired Atrium Health’s nationally recognized clinical excellence and commitment to health equity,” said Michele Richardson, chair of Advocate Aurora Health’s board of directors. The Advocate Aurora Health and Atrium Health Boards of Directors unanimously approved the agreement, which is subject to regulatory review. It will serve 5.5 million patients, operate more than 1,000 sites of care and 67 hospitals, employ more than 7,600 physicians and nearly 150,000 teammates, and have combined annual revenues of more than $27 billion. The new organization will have a combined footprint across Illinois, Wisconsin, North Carolina, South Carolina, Georgia and Alabama. Highlights include a $2 billion pledge to disrupt the root causes of health inequities across both rural and urban underserved communities, their commitment to achieve carbon neutrality by 2030 and a pledge to create more than 20,000 new jobs across the communities they serve. Leadership pointed to the organizations’ combined clinical excellence – including in medical research and population health – as well as advanced capabilities in data analytics and digital consumer infrastructure as key value accelerators, which will allow them to make a positive impact across six key areas: clinical pre-eminence and safety, health equity, affordability, next-generation workforce, learning and discovery, and environmental sustainability. “This combination harnesses our complementary strengths and expertise of our doctors, nurses and teammates to lead health care’s transformation for those we are so proud to serve.” “Together, we can do more, be better and go faster,” said Jim Skogsbergh, president and chief executive officer of Advocate Aurora Health. Together, we will manifest a new future that significantly elevates the care we provide to every hand we hold and every life we touch.” “This strategic combination will enable us to deepen our commitments to health equity, create more jobs and opportunities for our teammates and communities, launch new, game-changing innovations and so much more. Woods, president and chief executive officer of AtriumHealth. “The world of healthcare as we know it is changing at warp speed – and it is rapidly becoming more digital, personalized, scientific and complex,” said Eugene A. The organizations cited their complementary strengths, diverse experiences and enhanced capabilities as key enablers to improve lives. Advocate Aurora Health and Atrium Health to CombineĬomplementary Capabilities will Advance Patient Outcomes, Health Equity and Medical BreakthroughsĪdvocate Aurora Health and Atrium Health announced today their plans to come together to create a leading health and wellness delivery system to best meet patients’ needs by redefining how, when and where care is delivered.
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