Naperville-based Edward Hospital and Health Services and Elmhurst Memorial Healthcare announced Monday that they have finalized their merger.
The merger creates one of the larger integrated health systems in the state comprised of three hospitals — Edward, Elmhurst Memorial and Linden Oaks at Edward — with revenues of about $1 billion and more than 50 outpatient locations across a service area of 1.7 million residents.
The system employs nearly 7,700 and has more than 1,680 physicians on staff. The official name of the system is still in the works.
No matter what it is called, the news is a landmark for Naperville, where Edward has been an independent hospital and healthcare provider for decades.
“This is an historic day for residents of our communities because it brings together and strengthens important community-focused institutions with long histories of serving the western and southwestern suburbs,” said Pam Davis, CEO of the new system. “While Elmhurst Memorial and Edward are already nationally recognized for quality and patient satisfaction, our collaboration will lead to even higher quality, and improved services and efficiencies for our patients as we meet the challenges of healthcare reform.”
The merger should lead to greater efficiency and some cost savings due to economies of scale, officials of the hospitals said.
Leadership appointments were also announced.
Mary Lou Mastro took over Monday as president and CEO of Elmhurst Memorial Healthcare. Gina Sharp was promoted to president of Linden Oaks at Edward.
The system’s 13-member Board of Trustees has also been named: Ron Schubel, chairman, of Naperville – retired, Molex Incorporated; David Atchison, vice chairman, of Oak Brook, president and CEO, Ponder and Co.; Joseph Beatty, trustee, of Evanston, former president and CEO of Telular Corp.; David Brueggen, trustee, of Elmhurst, retired, Anson Industries; Pam Davis, trustee, of Naperville, system CEO; Joe DePaulo, trustee, of Naperville – president, Clow Airport; Brian Hagan, trustee, of Elmhurst – executive vice president, First American Bank, Elk Grove Village; Thomas Kloet, trustee, of Elmhurst and Toronto – CEO, TMX Group; Mary Kay Ladone, trustee, of Lisle – vice president, Investor Relations, Baxter International; Rocco Martino, trustee, of Burr Ridge – partner, LaSalle Capital Group; Ronald Nyberg, trustee, of Naperville – partner, Nyberg & Cassioppi; Robert Platt, trustee, of Elmhurst – CEO, Mostardi Platt; Timothy Rivelli, trustee, of Hinsdale – partner, Winston & Strawn.