Tessa Quinn
Henry Ford Health and Ascension Michigan have entered into a joint venture, combining their organizations to form a $10.5 billion system. The new organization, branded as Henry Ford Health, will employ around 50,000 people across 13 hospitals and over 550 sites, with an expected annual revenue of $11 billion. The venture is expected to improve patient outcomes, enhance access to care, and provide expanded career opportunities. While the partnership is not described as a merger, it reflects a growing trend of hospitals and health systems coming together to improve efficiency and expand services.
| Characteristics | Values |
|---|---|
| Number of hospitals in the joint venture | 13 |
| Number of employees | 50,000 |
| Number of sites | 550 |
| Annual revenue | $10.5 billion |
| Type of partnership | Joint venture |
| Merger date | 1 October 2024 |
| Headquarters | Detroit |
| President and CEO | Bob Riney |
| Ownership | Henry Ford Health (80%), Ascension (20%) |
| Senior Integration Advisor | Carol Schmidt |
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What You'll Learn
The new organisation will be called Henry Ford Health
Henry Ford Health and Ascension Michigan have launched a new organisation, which will be called Henry Ford Health. The new organisation will be a joint venture, with Henry Ford Health as the majority owner with an 80% governance stake. The new system will have 13 acute care hospitals and three behavioural health facilities throughout metro Detroit and central Michigan. They will employ nearly 50,000 people across more than 550 sites in the state.
The new organisation will retain Henry Ford Health's branding and headquarters, which will remain in Detroit. The former Ascension Michigan hospitals included in the joint venture will be rebranded under the Henry Ford name, including Ascension Genesys Hospital, which will become Henry Ford Genesys Hospital, and Ascension Macomb-Oakland Hospital, Warren & Madison Heights campuses, which will become Henry Ford Warren Hospital and Henry Ford Madison Heights Hospital.
The joint venture is expected to improve care delivery in the region, through stronger care coordination, population health efforts, and other benefits resulting from their greater scale. The expanded organisation will also be able to reduce healthcare costs while leading to better outcomes for patients, as well as advancing clinical research and providing more training opportunities for doctors and nurses.
The new organisation will also maintain the Catholic identity of the former Ascension Michigan hospitals and healthcare facilities, with sites that are currently Catholic continuing to provide faith-based care. Leaders of the two organisations have touted the potential to offer more services to disadvantaged communities, with President and CEO of Henry Ford Health, Bob Riney, stating that the joint venture will "dramatically impact the health and wellness of the communities it serves".
No layoffs are planned as a result of the merger, and 99% of Ascension team members who were offered positions at Henry Ford Health accepted.
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The venture will improve patient outcomes and access to care
Henry Ford Health and Ascension Michigan have officially launched their newly combined organization, marking a significant step forward in their joint venture. This merger brings together two renowned healthcare systems, with a shared commitment to enhancing the health and wellness of the communities they serve. One of the key goals of this venture is to improve patient outcomes and access to care, and there are several ways in which this will be achieved.
Firstly, the merger will result in an expanded network of healthcare facilities, with 13 acute care hospitals and over 550 sites of care across Michigan. This increased coverage means that patients will have improved access to healthcare services, including primary, specialty, and complex care. Patients will be able to seek treatment at any of the Henry Ford Health or former Ascension Michigan hospitals, providing them with greater flexibility and convenience.
Additionally, the combined organization has expressed its dedication to maintaining the Catholic identity of the former Ascension Michigan hospitals. This means that patients who align with Catholic values and ethics will continue to have access to faith-based care, ensuring that their spiritual needs are met alongside their physical health needs.
Moreover, the merger is expected to bring about advancements in clinical research and innovation. With a combined $10.5 billion in revenue, the organization will have greater resources to invest in research and development, leading to potential breakthroughs and improved treatment options for patients. The organization also plans to upgrade the electronic medical record platform, improving the coordination of care and enabling better patient outcomes.
The venture also creates expanded career opportunities for healthcare professionals, with increased options for career development and advancement. This means that healthcare providers will have enhanced capabilities to attract, train, and retain top talent, ultimately resulting in improved patient care.
In conclusion, the joint venture between Henry Ford Health and Ascension Michigan is designed to bring about significant improvements in patient outcomes and access to care. Through expanded healthcare services, improved coordination, advancements in research and innovation, and a commitment to meeting the diverse needs of patients, the merged organization is well-positioned to positively impact the health and wellness of the communities it serves.
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No staff layoffs are planned
Henry Ford Health and Ascension Michigan have entered into a joint venture, combining their organizations. This merger is expected to improve patient care and access, as well as enhance clinical research and training opportunities for medical staff.
The newly merged organization will employ nearly 50,000 people across more than 550 sites in Michigan. This includes 13 acute care hospitals and three behavioral health facilities.
Despite the scale of this merger, no staff layoffs are planned. In fact, the merger is expected to create new opportunities for staff, with expanded career pathways and increased opportunities for career development and advancement.
Bob Riney, President and CEO of Henry Ford Health, confirmed that they are a growing organization, and that they do not plan any layoffs. He also expressed happiness that 99% of Ascension team members who were offered positions at Henry Ford Health accepted.
This merger is expected to benefit patients and staff alike, with improved access to healthcare services, enhanced clinical research capabilities, and expanded career opportunities for medical professionals.
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The Catholic identity of Ascension hospitals will be maintained
Henry Ford Health and Ascension Michigan have entered a partnership that has been referred to as a joint venture, rather than a merger or acquisition, with no cash transactions involved. The new organisation will be known as Henry Ford Health and will be headquartered in Detroit. The joint venture will have a significant impact on the communities it serves, improving outcomes, access to care, and patient experiences.
The joint venture will create new opportunities for staff, with expanded career pathways and increased opportunities for career development and advancement. Additionally, it will enhance clinical research and provide more training opportunities for doctors and nurses.
The combined organisation will operate more than 550 sites of care, with 13 acute care hospitals and three behavioural health facilities. It will employ approximately 50,000 people and is expected to generate $10.5 billion in revenue.
The partnership will also improve care coordination and population health efforts, leading to reduced healthcare costs and better outcomes for patients. Patients will have expanded access to healthcare services and improved coordination of care, with enhanced access to end-to-end healthcare services.
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The merger will save hospitals from closing due to financial problems
Henry Ford Health and Ascension Michigan have entered a partnership, which has been referred to as a joint venture rather than a merger. This partnership is expected to save hospitals that would otherwise have to close due to financial problems.
Theoretically, the acquisition of a small, financially struggling hospital by a large healthcare system could stabilize the hospital. This could be beneficial for patients as it could provide the hospital with access to needed expertise, money, and resources, which could keep the hospital running.
The joint venture will create a 13-hospital, 50,000-person hospital system, with an estimated $12 billion in revenue annually. The new organization will retain Henry Ford Health's branding and headquarters in Detroit.
The partnership will improve care delivery in the region through stronger care coordination and population health efforts. It will also expand healthcare services and improve the coordination of care, providing patients with more access to services closer to where they live.
The organizations have also stated that they will work to maintain the Catholic identity of the Ascension hospitals, and that sites that are currently Catholic will continue to provide faith-based care.
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Frequently asked questions
No, the two health systems are entering a joint venture, which they say is not a merger or acquisition. No cash transactions will take place.
The new organization will be called Henry Ford Health.
The new organization will employ approximately 50,000 people across more than 550 sites.
The joint venture will improve care delivery in the region, through stronger care coordination, population health efforts, and other benefits resulting from their greater scale.
