Iowa Health to pursue acquisition of medical group
Iowa Health System, Des Moines, announced plans to pursue an affiliation agreement and acquire a 130-physician multispecialty group just over the state line in Illinois. Iowa Health officials have signed a letter of intent to affiliate with Quincy (Ill.) Medical Group, which has expertise in 27 medical and surgical specialties serving patients in west-central Illinois, northeast Missouri and southeast Iowa, according to an Iowa Health news release. The organizations hope to complete the affiliation by the end of this year, including any financial details. Quincy Medical Group CEO Aric Sharp—who was named a 2011 Modern Healthcare Up & Comer last month—said in a news release that Iowa Health’s decentralized management model would give Quincy some local control while also bringing the benefits of a large health system. The news release noted that “maintaining the aspects of physician ownership and local governance” was among the core principles behind the affiliation.