We would like to take this opportunity to provide our community with an
update about progress made regarding an affiliation between St. Margaret’s
Health and Illinois Valley Community Hospital, as part of SMP Health System.
Since we announced our intent to affiliate in March, we have been going
through a process called due diligence. This includes a comprehensive
analysis of the operations and finances of both organizations, as well
as legal and regulatory considerations. Through our due diligence, we
will determine how an affiliation would enable us to better serve our
patients and communities.
We are taking all necessary steps to make sure that we are going about
this in the right way. We want to ensure that we move forward in a way
that makes us stronger stewards of healthcare for our communities. As
part of this complex and lengthy process, our organizations have shared
hundreds of documents and thousands of pages for review. Both organizations
are working with experienced legal counsel and advisors who have special
expertise in hospital partnerships. While due diligence is progressing
deliberately, we are still on track to achieve our goal, which is the
signing of a binding Definitive Agreement, later this summer.
A leadership team from St. Margaret’s and SMP Health System met with
IVCH’s Board of Directors and Administration at the end of May.
The meeting was overwhelmingly positive, with leaders from both organizations
discussing their shared vision for the future of healthcare in the Illinois
Valley. Both organizations, whose Board members are comprised of local
community and business leaders, see a great deal of potential in combining
our strengths to improve access to high quality healthcare and increase
our service offerings, close to home.
We look forward to sharing details of the proposed regional health network
as they are developed. As soon as there is more information to share,
you will hear it from us first.
We are grateful for the support received from our patients, staff and community
members. We remain as committed as ever to working together to provide
the best healthcare for residents of the Illinois Valley, now and long
into the future.
Tommy Hobbs, CEO, Illinois Valley Community Hospital
Tim Muntz, President/CEO, St. Margaret’s Health