Ascension Health and Alexian Brothers Health System announced Wednesday that the two will merge as of Jan. 1, 2012.
Alexian Brothers will become part of St. Louis-based Ascension Health.
The two Catholic health systems announced plans to enter into the agreement in April 2011. The Illinois Health Facilities and Services Review Board approved the agreement in early December 2011 and the final agreement was signed last week.
Terms of the deal were not disclosed.
The agreement includes Arlington Heights, Ill.-based Alexian Brothers' two acute care hospitals and two specialty facilities in Chicago, plus senior care facilities in St. Louis, Milwaukee and Chattanooga, Tenn.
"Ascension Health has a long traditional of caring for those who are poor and vulnerable, just as we do," said Mark A. Frey, president and CEO of Alexian Brothers Health System in a statement. "Our relationship with Ascension Health will allow us to continue our ability to provide quality healthcare and housing services across Chicago and at our other ministry locations in Missouri, Tennessee and Wisconsin."
Alexian Brothers chose to merge with Ascension Health because the values and management styles of both organizations complement each other, according to a press release announcing the merger.
"We are excited about bringing Alexian Brothers' tradition of quality care and expertise in areas like senior services into Ascension Health," said Anthony R. Tersigni, president and CEO of Ascension Health in a statement. "Our ministries have complementary areas of expertise and share a commitment to Catholic healthcare and the mission of serving all with special attention to those who are poor and vulnerable."