Holy Cross Hospital and Vanguard Health Systems Withdraw from Proposed Alliance

Holy Cross Hospital announced it and Nashville, Tenn.-based Vanguard Health have decided to no longer move forward with their proposed alliance. “The economy and the health-care environment have changed profoundly since Holy Cross Hospital and Vanguard began due-diligence procedures in December 2010,” said Wayne Lerner, president and CEO, Holy Cross Hospital. “National economic uncertainties have been greatly exacerbated. Cutbacks are hampering state Medicare/Medicaid reimbursements and slow growth continues to challenge the U.S. economy. Holy Cross Hospital’s potential partnership with Vanguard was a bold, innovative venture that did not work out when economic conditions shifted.” The definitive agreement between Holy Cross and Vanguard expired on June 30 and was not renewed.

Despite the challenges posed by its enormous footprint across some of Chicago’s most economically-depressed regions, Holy Cross Hospital has built five consecutive years of positive, economic performance. “Holy Cross Hospital will continue as a solid oasis in Chicago’s Southwest Side health-care desert,” Lerner said. “Initiatives such as the Family Birthing Center and the expanded state-of-the-art Emergency Department are evidence of Holy Cross Hospital’s commitment to progress. Our plans for the future are aggressive and comprehensive. We are in active collaboration with our medical staff to expand existing, and develop new, patient-care programs which meet the needs of our ethnically, racially and socioeconomically diverse community. We will continue our strong, institutional commitment to quality, efficiency, and patient-satisfaction initiatives. And yes, we will continue to seek a partner in the rapidly evolving, metropolitan Chicago health-care market and beyond.” For more information, visit www.vanguardhealth.com or www.holycrosshospital.org.

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