Northwestern Memorial HealthCare and Cadence Health are in merger talks, the companies said Thursday.
The deal would create a sprawling health system that includes Northwestern Memorial, Northwestern Lake Forest, Central DuPage and Delnor hospitals. Combined revenue would total at least $2.84 billion, according to chicagobusiness.com.
The new health system will operate under the Northwestern Medicine brand and be led by Dean M. Harrison, president and CEO of Northwestern Memorial HealthCare, and Cadence President and CEO Mike Vivoda, who will become regional president, according to a joint statement from the companies.
“A merger of our health systems would combine Cadence Health’s strong portfolio of primary and specialty care with our strength as one of the nation’s leading academic medical centers, to create a preeminent integrated academic health system that benefits all residents, regardless of their ability to pay, by giving them increased access to physicians, clinical trials and Northwestern University research programs as well as integrated primary, secondary and advanced tertiary services,” Harrison said in the statement.
Additional details, including financial terms, weren’t available.