St. Louis-based Ascension has created a new unit called Ascension Holdings International that will expand the health system's global footprint. The unit will identify Ascension capabilities that are prime for commercialization and will develop and incubate those capabilities in markets outside of the U.S.
Ascension President and Chief Executive Anthony Tersigni said in an Aug. 4 press release on the launch of the unit that Ascension Holdings International will take a strategic approach to extending Ascension's mission globally. The unit will aim to meet unmet needs, help others and exchange knowledge with other countries while seeking to earn a return on investments Ascension makes through the unit.
Ascension Holdings International will focus on diversifying Ascension's financial platform, gaining broad exposure and early access to the growing environment of innovative ideas and thinking from other parts of the world, Tersigni said.
In the unit's efforts to commercialize Ascension's work internationally, said the release, staff will leverage Ascension "businesses, solutions and talent" around the world.
Ascension Holdings International is based in St. Louis and is part of Ascension Holdings, a system division that manages a portfolio of companies that service Ascension facilities and other health care organizations. John Doyle is president and chief executive of Ascension Holdings; he now is also chief executive of the new unit.
Doyle said in the press release that Ascension Holdings International will target regions and countries based on population size, stability, safety, rule of law and business environment. It will use Ascension capabilities to "benefit health care providers in those markets." It will collaborate with Catholic health care providers to explore how best to "work together in regional or national arrangements," according to Ascension.
Ascension said Dr. Jim Bonnette and Phoebe Yang will help to lead Ascension Holdings International. Bonnette is the unit's managing director, international relationship development. He most recently was executive vice president, head of strategy consulting at The Advisory Board Company. Yang is Ascension Holdings International's managing director, international strategic design and implementation. She was previously chief strategy officer of Ascension's MissionPoint Health Partners.
Other high-profile Ascension international activity includes the system's involvement in Health City Cayman Islands, its operation of the TriMedx International medical engineering company; its international investing activity through Ascension Investment Management and its charitable work through Ascension Global Mission. Health City is a tertiary care hospital in Grand Cayman that is a partnership between Ascension and Narayana Health, which is a Bengaluru, India-based network of hospitals and other facilities.