Saint Francis Care, Inc., and Ascension Health Care Network announced today the signing of an exclusive Letter of Intent, opening the way for Saint Francis Care to join Ascension Health Care Network, with the vision of building a statewide, clinically integrated healthcare delivery system composed of high-quality providers committed to delivering an unequaled combination of healthcare quality and community value to residents across Connecticut.
Ascension Health Care Network is an affiliate of Ascension Health Alliance, the largest Catholic health system in the nation.
“We are very pleased that we and Ascension Health Care Network are pursuing the opportunity to join together,” said Christopher Dadlez, President and Chief Executive Officer, Saint Francis Hospital and Medical Center. “This step follows a thorough examination of how best to ensure that the people we serve in our communities continue to receive a lifetime of the very best care possible,” said Dadlez.
“This is an important step in advancing the mission of both Ascension Health Care Network and Saint Francis Care,” said Leo P. Brideau, President and CEO of Ascension Health Care Network. “We share a common goal of providing high-quality, efficient care that responds to people’s physical, emotional and spiritual needs while aggressively advocating for the well-being of our patients and their families, and ensuring healthcare is available to those who are poor and vulnerable. We believe this relationship has the potential to improve healthcare at both the state and regional level.”
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If an agreement is finalized, Saint Francis Care will become part of Ascension Health Care Network, an organization dedicated to strengthening Catholic healthcare in the United States and committed to providing care for the underserved in our communities. Ascension Health Care Network is a for-profit, taxable organization.
“Saint Francis, a 116-year-old institution, has consistently demonstrated its ability to be progressive in its delivery of world-class care while maintaining its longstanding tradition of quality and compassionate care,” said Karl J. Krapek, Saint Francis Board Member and Chairman of the Board’s Strategic Planning Committee. “Operating from our position of financial and clinical strength, we have been evaluating how best to position Saint Francis as healthcare continues to evolve, and we have concluded that this opportunity provides us with the potential to create a powerful, statewide presence to further build on the strengths of our operations that will benefit our communities, employees, physicians and other stakeholders.”
Ascension Health Care Network and Saint Francis Care will conduct due diligence and work toward the development of a definitive agreement in the coming months.
Specific terms of the Letter of Intent agreement are confidential.