Albuquerque, New Mexico-based Presbyterian Healthcare Services and West Des Moines, Iowa-based UnityPoint Health explore A potential merger that could result in an approximately $11 billion business.
The two systems have signed a letter of intent to further evaluate the potential merger and seek regulatory approval. Such a combined entity would employ more than 40,000 of his people, including approximately 3,000 physicians and senior clinicians.
The purpose of such mergers is to enable greater investment in clinical excellence, digital innovation, workforce development and value-based care, said a March 2 joint statement. . It also reduces overall management costs.
Presbyterian Healthcare reported an overall loss of $370.7 million in 2022 as a decline in large investments dragged down its performance. The nine hospital systems have a licensed bed capacity of 1,017 and reported 2022 revenues totaling $5.5 billion.
UnityPoint Health operates 20 community hospitals and 19 community network hospitals in Iowa, Illinois and Wisconsin.
