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Friday, Mar 29, 2024
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Providence in Merger Talks With St. Joseph

Providence Health & Services, which operates three hospitals in the San Fernando Valley, is in talks about a strategic merger with St. Joseph Health System, a hospital chain with extensive holdings in Orange County. The two non-profits announced they signed a letter of intent on Friday. Although the details are in negotiation, they intend to form an affiliation to create a single health care organization. Providence, based in Renton, Wash., has 34 hospitals including Providence Tarzana Medical Center, Providence Holy Cross Medical Center in Mission Hills and Providence St. Joseph Medical Center in Burbank. St. Joseph Health has 14 hospitals, including ones in Newport Beach, Irvine and Laguna Beach. In a joint statement released this morning, Rod Hochman, chief executive of Providence Health & Services, and Deborah Proctor, president and chief executive of St. Joseph Health, lauded the forthcoming merger. “Providence and St. Joseph Health’s missions are aligned to improve the quality of care, increase access and make care more affordable for everyone,” Hochman said. “We are two mission-focused organizations which truly have the potential of being better together, delivering outstanding clinical care and providing a compassionate presence in all the communities we serve,” Proctor added.

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