” Were hoping that the actions taken … just 72 hours back will culminate in a combined organization next summer,” Kelby Krabbenhoft, president and CEO of Sanford Health, stated during an Oct. 26 press conference..
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The boards of both not-for-profit companies unanimously approved on Oct. 23 a resolution to support moving forward with the due diligence process. Pending regulative and state approvals, the merger is expected to close in 2021..
” These are 2 excellent organizations with strong histories that are financially and clinically really strong,” Dr. Harrison said throughout the press conference. “This is something that should occur for the future of American health care.”.
Salt Lake City-based Intermountain Health Care and Sioux Falls, S.D.-based Sanford Health have signed a letter of intent to combine..
Existing boards of trustees from both systems will join to form a combined board, and Gail Miller, chair of the Intermountain board, will work as board chair of the merged organization..
Intermountain will be the moms and dad business of the combined organization, and the merged system will be headquartered in Salt Lake City..
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Marc Harrison, MD, president and CEO of Intermountain, will serve as president and CEO of the combined system, which will operate 70 healthcare facilities and employ more than 89,000 individuals. Mr. Krabbenhoft will act as president emeritus..