Genesis Health System signs letter of intent for strategic partnership with MercyOne
BUSINESS RECORD STAFF Sep 14, 2022 | 9:03 pm
2 min read time442 wordsAll Latest News, Health & Wellness
Genesis Health System and MercyOne announced Wednesday they have signed a letter of intent to develop a strategic partnership. MercyOne is part of Trinity Health, with headquarters in Livonia, Mich.
The Genesis Health System board of directors unanimously selected MercyOne as its choice for a partner, after a thoughtful and deliberate exploration process that began in December 2021, the two organizations said in a press release.
MercyOne, which is based in Clive, recently became a wholly owned subsidiary of Trinity Health, one of the largest not-for-profit health care systems in the country with 88 hospitals across 25 states. MercyOne had formerly operated under joint ownership of Trinity and CommonSpirit for more than 25 years.
Genesis Health System, based in Davenport, serves a 17-county, bi-state region of the Quad Cities metropolitan area and the surrounding communities of Iowa and Illinois. The organization is the largest employer in Davenport. Genesis Health Group is that region’s largest multi-specialty provider group with more than 300 providers and 40 clinic locations.
With the signing of the letter of intent, Genesis and MercyOne will begin a process to conduct additional due diligence and ultimately work toward finalizing the terms of a definitive agreement.
“Throughout our partnership exploration, our commitment was to select a partner willing to make significant investments in Genesis that will enhance our ability to grow, thrive and deliver more seamless integrated care in our region,” said Doug Cropper, president and CEO of Genesis Health System. “MercyOne is a strong cultural fit with Genesis and shares our commitment to the Genesis mission, vision and values.
“With this selection, we will be able to leverage the skill, talent and scale of national and regional resources while retaining local leadership and focus,” Cropper said. “We believe MercyOne is the best partner to deepen our commitment to quality, safety and patient experience. This partnership will enhance support for our workforce retention and recruitment efforts and collaboratively address the most pressing issues facing health care today.”
Bob Ritz, MercyOne president and CEO, stated: “MercyOne and Genesis Health System are both mission-driven organizations committed to delivering the highest quality care and best patient experience to all we serve across Iowa. We look forward to continuing discussions and shaping a framework to enhance access to personalized, convenient health care across Eastern Iowa and Western Illinois.”
Nothing changes operationally for either health care system as a result of the letter of intent or throughout the due diligence process, which will occur over the course of the next several months. Patients will continue to receive the same high-quality, compassionate care they have always received from their trusted providers, the health systems said.