Mergers & Acquisitions
Cognizant says it hopes to expand its range of digital solutions across the value chain, and address the large provider segment of the healthcare market.
Both are in at-risk arrangements for Medicaid, Medicare Advantage and the Affordable Care Act markets.
The goal of the acquisition is to create a vertically integrated company in cloud-based enablement of data-driven value-based care.
The deal is the latest proposed consolidation to help control cost and stay competitive against Amazon, other players.
The hospitals are attempting to band together in order to compete with hospitals such as Massachusetts General and Brigham and Women's Hospital.
Along with Presence comes 10 of its hospitals, which will operate within Amita Health, a joint venture between Ascension and Adventist Midwest Health.
MacNeal is now officially part of Loyola Medicine, a system that also is a member of Trinity Health.
While there are no specific mentions of a three-way merger, Lifespan CEO expressed excitement over potential partnership; Brown University president still concerned.
The combined system will have 43 hospitals and $8 billion in net operating revenue.
The request extends the Hart-Scott-Rodino waiting period for the acquisition, but CVS Health continues to expect the deal will be completed in the second half of 2018, according to an SEC filing.