Trinity Health is acquiring all of CommonSpirit Health's share in an Iowa health system that the two Catholic health providers have operated under a joint operating agreement since 1998. With the change, Trinity Health will become the sole parent of the regional subsidiary, MercyOne health system.
Livonia, Michigan-based Trinity Health and Chicago-based CommonSpirit Health each have a 50% share in the MercyOne system. At this time, the systems are not disclosing the terms of the acquisition that will make Trinity Health sole owner.
Trinity Health and CommonSpirit expect to finalize the transaction this summer. In its press release, Trinity Health said the decision to move MercyOne to a sole parent ownership came after months of due diligence by both national health systems. The release said the ownership change will be seamless for the communities MercyOne serves.
MercyOne has 16 medical centers, 27 affiliate organizations and more than 420 other care sites in Iowa. It employs more than 20,000 colleagues including 2,000 doctors and providers.
Trinity Health President and Chief Executive Mike Slubowski said in the press release that the change will result in MercyOne being more fully integrated and better able to care for more patients in "a unified way." For instance, after Trinity Health becomes its sole parent, MercyOne will transition all its facilities over time to Trinity Health's technology platform. With that change, all facilities will be on the same electronic medical record system. Trinity Health said that ultimately this will allow patients to more easily manage their care across all MercyOne services and facilities.
MercyOne President and Chief Executive Bob Ritz said in the release that when MercyOne becomes a full member of Trinity Health, the Iowa system will become a "stronger, more cohesive health system, better able to offer a convenient and personalized circle of care for all we serve."
Ritz expressed gratitude to CommonSpirit for more than 20 years of partnership.