August 28, 2014 8:00 PM ET

Healthcare Providers and Services

Company Overview of Ascension Health, Inc.

Company Overview

Ascension Health, Inc., a Catholic and nonprofit health system, provides acute care, long-term care, community health, psychiatric, rehabilitation, and residential care services for poor and vulnerable persons in the United States. The company was formerly known as Daughters of Charity National Health System, Inc. and changed its name to Ascension Health, Inc. in November 1999. Ascension Health, Inc. was founded in 1986 and is based in St. Louis, Missouri with hospitals and facilities in the United States.

4600 Edmundson Road

St. Louis, MO 63134

United States

Founded in 1986

Phone:

314-733-8000

Fax:

314-733-8013

Key Executives for Ascension Health, Inc.

Chief Executive Officer
Managing Partner of Transformational Development and Vice President of Research
Chief Financial Officer and Senior Vice President
Chief Operating Officer and President of Healthcare Operations
Chief Information Officer
Compensation as of Fiscal Year 2014.

Ascension Health, Inc. Key Developments

Ascension Health Plans New Joint Venture with Dignity Health and Tenet Healthcare Corp

Ascension Health planned to transfer ownership of its three-hospital Carondelet Health Network of Tucson to a new joint venture with Dignity Health and Tenet Healthcare Corp. The three health care groups have signed a non-binding letter of intent under which the joint venture would own and operate Carondelet. Under the proposal, St. Louis-based Ascension would retain a minority interest in the venture while Tenet would be the majority partner with management responsibility for all of Carondelet's assets, including St. Joseph's and St. Mary's hospitals in Tucson, Holy Cross Hospital in Nogales, Arizona; Carondelet Medical Group, Carondelet Specialist Group and its ancillary businesses. Terms of the proposed deal weren't disclosed, nor was Dignity's exact interest in the joint venture.

Ascension Names Six Members of New Board of Directors

Ascension announced six members of the new Board of Directors. The Rev. Dennis H. Holtschneider, CM, EdD, President, DePaul University, Chicago, who will serve as interim Chair. Father Dennis, former Vice Chair of the Ascension Board of Directors, is also a professor of education at DePaul and a faculty member in the Harvard Graduate School of Education's Management Development Program, as well as Boston College's Institute for Administrators in Catholic Higher Education; Eduardo Conrado, Senior Vice President, Marketing & IT, Motorola Solutions Inc. Mr. Conrado is past national chairman of the Business Marketing Association, and is on the Board of Directors for the American Red Cross of Greater Chicago and the Association of National Advertisers; Stephen M. Dufilho, CPA, Principal, Goldsmith, Fillis & Dufilho Capital Partners, LLC, San Antonio, Texas. Mr. Dufilho, former Vice Chair of the Ascension Health Board of Trustees, has served as Chairman and Vice Chairman of the Board of CHRISTUS Santa Rosa Health Care Corp. and on the Boards of several non-profit organizations; Eve J. Higginbotham, SM, MD, Vice Dean for Inclusion and Diversity, Perelman School of Medicine, Senior Fellow, Leonard Davis Institute for Health Economics, and Professor of Ophthalmology, University of Pennsylvania; Sr. Kathleen Kelly, CSJ, PhD, Consultant, Development, St. Mary's Academy, Inglewood, Calif. Sr. Kathleen, former Chair of the Ascension Board of Directors and Ascension Health Board of Trustees, and former member of the Ascension Health Sponsors Council; W. Stancil (Stan) Starnes, JD, Chairman, Chief Executive Officer and President, ProAssurance Corp. Mr. Starnes is also a member of the St. Vincent's Health System Board in Birmingham.

Daughters of Charity Sees Interest From Multiple Parties On Sale of Hospitals

The Daughters of Charity Health System reportedly has received bids from several interested parties for its six hospitals. "There are multiple bidders on the statewide system," Steven Valentine, president of the Camden Group said, all of them from for-profit entities. There are also "individual bids by (various nonprofit) systems for just the Northern California hospitals and just the Southern California hospitals." The Daughters network includes Seton Medical Center, its Seton Coastside satellite campus, O'Connor Hospital, Saint Louise Regional Hospital and two facilities in the Los Angeles area, St. Vincent Medical Center and St. Francis Medical Center. A potential deal with a large Catholic system, possibly Ascension Health, which earlier tried to acquire the Daughters of Charity network of nonprofit hospitals in California, is one strong possibility, according to an informed source.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 22, 2014
Carondelet Health Network
 

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