Local News
Steward Health completes acquisition of Iasis Healthcare
BOSTON, MA – According to a press release dated Friday, September 29, 2017, Steward Health Care System LLC (Steward) has completed a previously announced agreement to merge operations with IASIS Healthcare LLC (IASIS). As the sole operator of the newly merged company, Steward will oversee 36 individual hospitals across ten states – including five hospitals in Utah, one of which is in Lehi.
Steward also has managed care operations here in Utah, in addition to Arizona and Massachusetts, and projected revenues of almost $8 billion in 2018, the first full-year of the consolidated company. Steward is now the largest private hospital operator in the U.S. with approximately 37,000 employees, 1,400 employed physicians, and 4,700 integrated network physicians.
“This merger enables Steward to expand our successful, physician-led model that keeps patients healthy and close to home,” said Dr. Ralph de la Torre, Chairman and CEO of Steward Health Care. “We look forward to introducing patients, physicians, and employees throughout Utah to our high-quality care, innovative programs, and community commitment.”
Steward assumes operations at five Utah hospitals: Davis Hospital and Medical Center in Layton, Jordan Valley Medical Center in West Jordan, Jordan Valley Medical Center – West Valley Campus in West Valley City, Mountain Point Medical Center in Lehi, and Salt Lake Regional Medical Center in Salt Lake City.
Steward now owns and operates several related businesses including a managed risk platform, Health Choice, which delivers managed care and health insurance services to more than 680,000 covered lives. The total number of covered lives within Steward’s integrated care network and these insurance products is more than 1.1 million, with paneled lives estimated at 2.5 million.
Several of the hospitals joining Steward operate in partnership with physician owners. The IASIS/Steward merger complied with normal regulatory approvals and adherence to closing conditions.
About Steward Health Care
Steward Health Care, the largest private hospital operator in the United States, is a physician-led health care services organization committed to providing the highest quality of care in the communities where patients live. Headquartered in Boston, Massachusetts, Steward operates 36 community hospitals nationwide that employ approximately 37,000 people and regularly receive top awards for quality and safety. The Steward network includes more than 25 urgent care centers, 42 preferred skilled nursing facilities, substantial behavioral health services, over 7,300 beds under management, and more than 1.1 million covered lives through the company’s managed care and health insurance services.
Additional information is available at www.steward.org.
