Sherman Health Announces Intent to Partner with Advocate Health Care
Potential Affiliation Will Help Sherman Grow, Offer Unparalleled Health Care to the Greater Elgin Area
ELGIN: Sherman Health Systems announced today its plans to sign a Letter of Intent (LOI) to pursue a partnership with Advocate Health Care.
"Advocate Health Care shares our values and vision for health care in the Elgin area," said Rick Jakle, Chair of the Sherman Health Board of Directors. "Sherman is pursuing a partnership that will combine the resources of one of the nation's top community hospitals with one of the nation's leading health systems. We remain committed to providing the personalized care that our community has come to expect from Sherman."
The Sherman Health Board of Directors voted Monday to sign the LOI with Advocate, and announced the decision to staff and doctors this morning. Although non-binding, the LOI is a reflection of the two organizations' commitment to the partnership.
During its search for a health care partner, Sherman considered expressions of interest from more than a dozen potential partners.
"We're pleased that we will offer our patients the expertise of one of the top 10 health systems in the country," said Sherman Health President and CEO Rick Floyd. "Through this partnership, Sherman will be able to grow and expand our services at an accelerated pace to become a distinctive, regional destination for care."
Advocate Health System is the largest health system in Illinois with 10 acute care hospitals, the state's largest integrated children's network, five Level I trauma centers, two Level II trauma centers, the state's largest home health care company and more than affiliated 6,000 physicians.
"We are thrilled about the potential opportunity to partner with an organization that is as strong as Sherman Health," said Jim Skogsbergh, President and Chief Executive Officer of Advocate Health Care. "Advocate and Sherman share numerous core values; including a commitment to health outcomes and patient safety and a commitment to the communities we are privileged to serve."
In the next several months, Advocate and Sherman will carry out due diligence and begin planning the details of their potential integration. A formal closing date is expected between May and July of 2013.
About Sherman Health
Named the fifth most beautiful hospital in the U.S. by Soliant Health, the 255-bed Sherman Hospital features all private patient rooms, a 15-acre geothermal lake to heat and cool the facility, an advanced Emergency Department with a level II trauma center, a spacious Family Birthing Center and Special Care Nursery, a Heart & Vascular Center, a Cancer Center and a bright and open design to contribute to the healing process. Sherman Health has obtained certification as a Primary Stroke Center, Breast Center and Chest Pain Center, and also received a 2011 Silver Award from Illinois Performance Excellence (ILPEX). Sherman Health provides services across the whole continuum of care, operating three immediate care centers in Elgin, South Elgin and Algonquin; Sherman West Court, a skilled nursing and rehabilitation facility; and home health services. The system employs more than 2,200 individuals and has more than 600 dedicated physicians on its medical staff. For more information, visit ShermanHealth.com.
About Advocate Health Care
Advocate Health Care, named among the nation's top health systems, is the largest health system in Illinois and one of the largest health care providers in the Midwest. Advocate operates more than 250 sites of care, including 10 acute care hospitals, the state's largest integrated children's network, five Level I trauma centers (the state's highest designation in trauma care), two Level II trauma centers, one of the area's largest home health care companies and one of the region's largest medical groups. Advocate Health Care trains more primary care physicians and residents at its four teaching hospitals than any other health system in the state. As a not-for-profit, mission-based health system affiliated with the Evangelical Lutheran Church in America and the United Church of Christ, Advocate contributed $571 million in charitable care and services to communities across Chicagoland and Central Illinois in 2011.
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