The Illinois Well being Amenities and Companies Assessment Board voted Sept. 13 to postpone a vote on the change of possession for 10 Advocate Aurora amenities within the state lined by the system’s plan to merge with Charlotte, N.C.-based Atrium Well being.
Atrium and Advocate Aurora, dually headquartered in Milwaukee and Downers Grove, Ailing., introduced plans to merge right into a 67-hospital system with upward of $27 billion in income in Might.
The mixed system could be headquartered in Charlotte and have footprints in Illinois, Wisconsin, North Carolina, South Carolina, Georgia and Alabama. The brand new company entity will likely be named Advocate Well being, with every system persevering with to make use of its respective model in its respective native markets.
The Illinois Well being Amenities and Companies Assessment Board first voted 3-2 to not approve the purposes for the change of possession for Advocate Aurora’s 9 hospitals and one ASC in Illinois. Later voting on the identical assembly, the board moved to rethink the vote, which may occur on the subsequent assembly in December or probably earlier, a board member advised the Chicago Tribune.
The vote is required because the affiliation is taken into account a change of fifty % or extra of the voting members of a nonprofit company’s board of administrators that controls a healthcare facility’s operation, license, certification or bodily plant and property. Advocate Well being’s board of administrators will likely be made up of an equal variety of members from Advocate Aurora and Atrium Well being.
Board members’ issues stemmed from the supply of data and their understanding concerning the deal, the Chicago Tribune reported.
Advocate Aurora shared the next assertion with Becker’s on the board assembly final result:
“State statute requires the Assessment Board to approve all Certificates of Exemption purposes that workers have deemed full. Our utility was deemed full final month, thus, we have been stunned by right this moment’s delay and can work with the Assessment Board to deal with their questions. Please know we proceed to work with different applicable regulators and stay assured our mixture remains to be on observe to shut by the tip of the yr.”
Atrium shared the next assertion with Becker’s:
“There are a variety of regulatory our bodies which have requested for info to assessment associated to Atrium Well being’s proposed strategic mixture with Advocate Aurora Well being. The board in Illinois has indicated it desires to see further info, and we’ll proceed to share applicable info.”