August 2, 2015
St. Joseph Health System, one of the largest hospital groups in the Los Angeles area, is merging with Providence Health & Services, a firm based in Renton, Wash., with major holdings in the area.
Providence is a nonprofit, which owns a total of 34 hospitals, 475 clinics and other facilities. Some of its holdings include buildings in the San Fernando Valley, South Bay and Santa Monica. Among its holdings are the John Wayne Cancer Institute in Santa Monica, as well as St. John’s hospital, in the same city.
Executives of both firms say they want to provide more affordable healthcare for patients.
Tags: acquisition, healthcare, hospitals, John Wayne Cancer Institute, medical office, Providence Health & Services, Renton, San Fernando Valley, Santa Monica, south bay LA, St. John’s Santa Monica, St. Joseph Health System, transactions