Healthcare: Northwestern, Cadence to complete merger Sept. 1
Chicago-based Northwestern Memorial HealthCare will complete its merger with Winfield-based Cadence Health on Sept. 1, the two health care agencies announced Wednesday.
Cadence operates Central DuPage Hospital in Winfield and Delnor Hospital in Geneva. Northwestern operates Northwestern Memorial Hospital in Chicago and Northwestern Lake Forest Hospital in Lake Forest.
"We are honored to welcome Cadence Health into the Northwestern Medicine family," Dean M. Harrison, NMHC president and CEO, said in a statement. "Cadence is an ideal health system to combine with as their vision, mission and values are very similar to ours.
The Illinois Health Facilities and Services Review Board unanimously approved the merger last month after the two agencies announced plans to merge. The hospitals signed a letter of intent to merge in March.
Harrison will remain president and CEO, and Mike Vivoda, Cadence Health's president and CEO, will be Northwestern Memorial HealthCare regional president for the Western Region.
Cadence was formed in March 2011 as a result of the merger between 347-bed Central DuPage and 159-bed Delnor. About 1,400 physicians are on staff at the two hospitals, and the group includes 289 primary care doctors and specialists with offices throughout the suburbs.
Northwestern Memorial Hospital has 894 beds and Northwestern Lake Forest has 201. The system includes 900 faculty physicians of the Northwestern University Feinberg School of Medicine.
Another earlier merger discussion between Cadence and the Rockford Health System fell through in January after just two months because the two organizations couldn't agree on the same strategic vision, officials said at the time.
Other Cadence executive who will be a part of Northwestern's team include Cadence CFO and Executive Vice President John Orsini, who will be NMHC CFO and senior vice president, and Cadence's executive vice president of strategy and administration Liz Rosenberg, who will become NMHC senior vice president of strategy.
"Our union is great for patients because it positions us to continue to provide unrivaled quality care within our communities," Vivoda said. "As one integrated health system, not only can we continue to fulfill the health needs of our region, we can leverage our collective strength as Northwestern Medicine to build stronger, healthier communities."