Northside Hospital, Gwinnett Medical Center announce plans to combine operations
Northside Hospital and Gwinnett Medical Center announced today that they have approved a non-binding letter of intent (LOI) to begin exclusive discussions to combine their operations.If a final agreement is reached, the merger would create a major health care system serving rapidly growing areas of the Atlanta Region and North Georgia. Anchored by Northside Hospital in Sandy Springs and Gwinnett Medical Center in Lawrenceville, the system also would include hospitals in Canton, Cumming and Duluth, as well as cancer treatment centers, imaging centers, medical office buildings, urgent care centers and other outpatient locations throughout the state. Altogether, the Northside-Gwinnett Medical combined system would have nearly 1,400 beds, more than 16,000 employees and close to 3,500 physicians on staff.
Northside Hospital CEO Bob Quattrocchi and Gwinnett Medical Center CEO Philip Wolfe said they are targeting early 2016 as a potential closing date for the deal. Meanwhile, the two organizations will conduct due diligence and planning activities. If a final definitive agreement is reached, the proposed transaction will be submitted to the State of Georgia Office of the Attorney General for review and approval, including at least one public hearing on a date to be determined.
The leaders of the two systems said that the merger is the best way to prepare for the future needs of patients and their families.
“A Northside Hospital and Gwinnett Medical Center combination is a strong and strategic fit on many levels,” Mr. Quattrocchi said. “We come to the table with very similar organizational cultures and unsurpassed commitments to patient safety and quality care. Northside and Gwinnett Medical Center already are geographic neighbors, and together we will serve one of the fastest-growing markets in the country.”
“Our service offerings complement each other,” Mr. Wolfe said. “Northside Hospital is a regional and national leader in women’s health and cancer care, while Gwinnett Medical Center is a leader in cardiac care, trauma care and sports medicine. Going forward, our strategy will be to leverage our respective strengths in our expanded footprint and provide the total spectrum of health care to patients not only in our market area, but throughout Georgia and the Southeast.”
Mr. Quattrocchi and Mr. Wolfe said that the merger should create many opportunities for enhanced patient care, additional growth, professional development and fiscal strength.