Methodist Health Services Corporation and Iowa Health System have entered into an affiliation.
On Thursday, June 9, the nationally recognized heath organizations signed the agreement in Chicago, and now await the consent of the Illinois Health Facilities and Services Review Board.
Upon approval, Methodist will be among 25 other hospitals in Illinois and Iowa in the Iowa Health System family, and will become the eighth senior affiliate of IHS.
"A key priority for Methodist was to find a strategic partner that shares Methodist's mission, vision, values, and our view of the future," said Methodist President and CEO Michael Bryant. "Like Methodist, IHS is passionate about quality of care and committed to local health care and the communities it serves."
Bryant says the partnership will support and strengthen Methodist as a regional health care system and allow for greater efficiency.
The affiliation allows Methodist to maintain self-sufficiency in its staff, board, and other operations as well as continue to run as normal in Peoria.
"We will remain a not-for-profit organization where money is reinvested in the hospital, health system, and community," said Bryant. "IHS recognizes Methodist's commitment to our community and the dedication of the people who have invested their livelihood in Methodist for 111 years."
An official closing of the transaction between both health care systems will occur after necessary approvals.
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