Transfer of St. Joseph Medical Center Assets to University of Maryland Medical System (UMMS) Anticipated to Occur Dec. 1, 2012
For immediate release: November 14, 2012
ENGLEWOOD, Colo. and BALTIMORE, Md. – University of Maryland Medical System (UMMS), Catholic Health Initiatives (CHI), and St. Joseph Medical Center (SJMC) are moving forward with a variety of activities needed to transfer the assets of SJMC to UMMS on Dec. 1, 2012. Regulatory filings have been submitted to the Federal Trade Commission and other regulatory authorities and are pending final regulatory approval. Until the transaction closes, SJMC and CHI will continue to operate the facility.
As part of the transaction, UMMS has formed a new organization - the University of Maryland St. Joseph Medical Center, LLC - which will take over all hospital operations once the assets have been transferred and the transaction has closed.
When the transaction closes, St. Joseph employees will be employed by the new organization or by UMMS, depending on their role. St. Joseph employees will begin receiving information today regarding their employment with the new organization. There are approximately 2,000 SJMC employees expected to be employed at the transfer date.
UMMS also announced the chairman of the board for the new University of Maryland St. Joseph Medical Center board will be the Honorable Francis X. Kelly, former Maryland state senator, representing northern Baltimore County (1979-1991). A member of the UMMS board since its creation in 1984, Kelly chairs the UMMS Hospital Affiliations Committee. Vice-chairman of the new board will be the current St. Joseph Medical Center board chairman, Edward Gilliss.
About University of Maryland Medical System
The University of Maryland Medical System (UMMS) is a private, not-for-profit network of 11 academic, community and specialty hospitals located across Maryland. UMMS employs over 21,500 people, making it one of the largest employers in the state. With total annual revenues of more than $2.7 billion, over 118,000 patient admissions, and a combined total of 2,300 licensed beds, UMMS is the largest hospital system in Maryland.
About Catholic Health Initiatives
Catholic Health Initiatives is a national nonprofit health system with headquarters in Englewood, Colo. The faith-based system operates in 19 states and includes 81 hospitals; 40 long-term care, assisted- and residential-living facilities; two community health-services organizations; two accredited nursing colleges; and home health agencies. In fiscal year 2012, CHI provided more than $715 million in charity care and community benefit, including services for the poor, free clinics, education and research. With total annual revenues of more than $10.7 billion and approximately 86,000 employees, CHI ranks as the nation's second-largest faith-based health system.