MEMPHIS, Tenn. (WMC) - Methodist Le Bonheur Healthcare and St. Francis Hospitals have decided to call-off the attempted merger.
A statement from Methodist said the healthcare systems have decided to keep MLH and Saint Francis hospitals as separate health entities.
“Methodist Le Bonheur Healthcare and Tenet have made the decision to continue to operate MLH and Saint Francis hospitals as separate health entities. With the Federal Trade Commission’s (FTC) recent decision to ask a court to block the sale of the transaction, we would prefer to focus on continuing our commitment to provide compassionate and high-quality care to patients rather than costly and protracted litigation that would have lasted at least 18 months and distracted from our core mission. We continue to believe that the proposed acquisition of Saint Francis hospitals and its associated properties would improve healthcare delivery for residents of Memphis, Bartlett and the surrounding communities, including enhancing access to care, cutting-edge medical technology and the highest quality physicians and staff. We appreciate the broad support of the proposed transaction from the community, including from leading local health plans, physicians, employers and community leaders who believed that the two organizations together would have had an even greater impact on the care delivered to the communities we are privileged to serve.”
Saint Francis Healthcare also released a statement saying both organizations will continue to serve the community independently.
“We have determined that the best course for both organizations is to continue serving our communities independently. While we will no longer bring our hospitals together with Methodist Le Bonheur, we continue as neighbors, both contributing to a positive community impact. This decision maintains our ability to provide excellent care to our patients, and doesn’t change – or compromise in any way – our longstanding promise to enhance access to care, cutting-edge medical technology and the highest quality physicians and staff. Looking ahead, we remain focused on serving the areas of greatest need as anchors of compassionate care in our communities.”
The Federal Trade Commission went to federal court earlier this month to block the transaction, arguing that if the sale went through, it would have been detrimental to healthcare in the Memphis metro.
Methodist announced in 2019 that it wanted to buy both Saint Francis Hospitals from Dallas-based Tenet Healthcare Corporation along with the doctors’ practices associated with the hospitals and six MedPost urgent care centers.
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