(St. Louis) November 1, 2012 − Despite efforts to reach an agreement, Catholic Health Initiatives (CHI), Saint Clare’s Health System (SCHS) and Ascension Health Care Network (AHCN) have decided to end negotiations for the transfer of ownership of Saint Clare’s. In March 2012, CHI and SCHS announced they were engaging in exclusive negotiations with Ascension Health Care Network (AHCN) for the transfer of ownership of SCHS to best meet the needs of the communities SCHS serves.
“Ascension Health Care Network continues to actively identify and engage potential partners throughout the United States,” said Leo P. Brideau, President and CEO of Ascension Health Care Network. “We remain committed to strengthening Catholic healthcare by providing hospitals and other related provider entities access to financial resources and operational and clinical expertise. This ensures that hospitals have access to the capital they need to continue providing the highest quality care while allowing them to maintain their Catholic identity.”
About Ascension Health Alliance
Ascension Health Alliance is a Catholic healthcare organization dedicated to the transformation of healthcare through excellent clinical care throughout the continuum and through innovation. Its subsidiaries include Ascension Health, the United States’ largest Catholic and nonprofit health system. Ascension Health provides the highest quality care to all with special attention to those who are poor and vulnerable. Last year Ascension Health provided more than $1.2 billion in care of persons living in poverty and community benefit programs. Its Mission-focused Health Ministries employ more than 121,000 associates serving in more than 1,400 locations in 21 states and the District of Columbia. Other Ascension Health Alliance subsidiaries focus on service areas ranging from biomedical engineering to treasury management functions to resource and supply management to venture capital investing. Its Ascension Health Care Network subsidiary provides an alternative funding source for the acquisition of Catholic hospitals and other healthcare provider entities.