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Steward Health Care System, a physician-led health care services organization, has completed the acquisition of IASIS Healthcare.
The transaction makes Steward the largest private for-profit hospital operator in the US with 36 hospitals across ten states, managed care operations in Arizona, Utah and Massachusetts, and projected revenues of almost $8 billion in 2018, the first year of consolidated operations.
"This merger enables Steward to expand our successful, physician-led, integrated care model," said Dr. Ralph de la Torre, chairman and CEO of Steward Health Care. "We look forward to providing the highest quality of care through keeping patients healthy and being available with advanced care in their community, should they need it. Steward will be introducing patients, physicians, and employees in six new states to our innovative programs and community commitment model."
With this acquisition Steward also expands its related businesses including a managed risk platform, Health Choice, which delivers managed care and health insurance services to more than 680,000 patients. The total number of covered lives within Steward's integrated care network and these insurance products is more than 1.1 million, with panelled lives estimated at 2.5 million.
Steward Health, IASIS Healthcare, Health Choice, M&A, Mergers & Acquisitions, Dr. Ralph de la Torre, US
