Trinity Health, N.Y. hos­pi­tal try again on ac­qui­si­tion

Modern Healthcare - - REGIONAL NEWS - —Me­lanie Evans

Trinity Health struck a de­fin­i­tive agree­ment to ac­quire St. Joseph’s Hos­pi­tal Health Cen­ter in Syra­cuse, N.Y. The health sys­tem pre­vi­ously ne­go­ti­ated with the hos­pi­tal but failed to reach a deal. For Trinity Health, the ac­qui­si­tion would in­crease its share of a ma­jor mar­ket. St. Joseph’s, which would join dozens of hos­pi­tals that Livo­nia, Mich.-based Trinity op­er­ates across the U.S., would gain ac­cess to the na­tional sys­tem’s cap­i­tal.

Trinity be­came one of the na­tion’s largest sys­tems af­ter its merger with Catholic Health East two years ago.

Con­struc­tion and elec­tronic health-record in­vest­ments strained St. Joseph’s al­ready weak fi­nances last year. It opened a new 72-bed tower in Septem­ber and ended 2014 with an op­er­at­ing loss of $2.7 mil­lion on rev­enue of $579.6 mil­lion, in part be­cause of $19.4 mil­lion in costs re­lated to in­stal­la­tion and train­ing on its EHR sys­tem. St. Joseph’s ended 2013 with op­er­at­ing in­come of $20.5 mil­lion on rev­enue of $564.8 mil­lion.

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