Trinity Health said Tuesday it acquired the remaining shares of one of Iowa’s largest health systems, MercyOne.
Terms of the deal were not disclosed.
Trinity created MercyOne in 1998 as a joint venture with Colorado-based Catholic Health Initiatives. In 2019, Catholic Health Initiaties merged with Dignity Health in Chicago to become CommonSpirit.
MercyOne operates 16 hospitals and more than 420 healthcare sites with more than 20,000 employees.
With the new sole parent company, MercyOne will transition to the Trinity electronic health record system, the company said in a press release.
“We strongly believe this transition to become a full member of the Trinity Health family will result in a stronger, more cohesive health system better able to offer a convenient and personalized circle of care for all we serve,” Bob Ritz, president and CEO at MercyOne, said in a press release. “We are delighted to have the agreement in place as we plan for the future of our mission. We are grateful to CommonSpirit for more than 20 years of partnership.”
Trinity and CommonSpirit are now planning integration, and the transaction is expected to be finalized in the summer.
Trinity is one of the largest nonprofit Catholic healthcare systems in the nation with 115,000 employees at 88 hospitals in 25 states, including eight in Michigan.
It generated $20.2 billion in revenue in 2021.
Last week, the health system announced it plans to rebrand all of its Michigan operations under the name Trinity Health Michigan.
The name change includes Saint Joseph Mercy Health System in metro Detroit and Mercy Health on the state’s west side, along with medical groups IHA and Mercy Health Physician Partners. Trinity’s 22 senior living communities and other entities will also change names, the health system announced in a news release.
Trinity Health St. Joseph Mercy Ann Arbor and Trinity Heath Muskegon already changed their signs to the new name, and the remaining hospitals will see name changes in the next eight months.
Chelsea Hospital, a joint venture between Trinity and Michigan Medicine, will feature both JV partners’ logos.
This story first appeared in our sister publication, Crain’s Detroit Business.