January 30 2017

Lahey Health Looking Into Merger with Beth Israel

By: BNEWS

One of Burlington’s largest institutions is looking to join with a partner.

The Boards of Directors of Beth Israel Deaconess Medical Center (BIDMC) and Lahey Health announced on Monday that they have signed a Letter of Intent to explore a merger.

The release says there are many details and specifics to work out for a combined system but that many significant items have already been addressed. Most prominently the letter said both entities will adopt a “ model of shared governance that will lead to full integration of the two systems in a way that fosters collaboration and innovation and brings value to patients and the state of Massachusetts.” The shared government model will have leaders from both BIDMC and Lahey Health taking top roles in the new entity.

Lahey Health’s top executive said he believes combining the two organizations will allow them to offer better care to patients.

“Just over six years ago, I came to the Lahey Clinic because of the unique opportunity to help transform a revered physician group and medical center into a vibrant, innovative health care system,” said Howard R. Grant, President and CEO of Lahey Health “During the recruitment process, the Board and physician leaders agreed that we would have to grow rapidly and adopt a regional model to provide superior, community focused care at a reasonable cost. We have successfully built our system with this focus, and our success has led us to the opportunity to affiliate with BIDMC. I am confident that the affiliation path will position Lahey Health for further success and growth. I have enormous confidence in the employees, management teams, medical staffs and Boards at Lahey Health and Beth Israel Deaconess Medical Center, and strongly believe that the combination of these organizations will be an enormous success and transformative for the Massachusetts health care market. I look forward to working to bring the benefits of this combined organization to the people of Massachusetts.”

BIDMC’s chief executive agree, adding that the two organization’s strengths would be combined for better care of patients and education of staff.

“We are engaged in ongoing discussions, exploring the opportunity to combine our two systems and create the region’s premier integrated healthcare delivery system, one that would offer patients exceptional care and unparalleled value, while keeping care in the community whenever possible,” said Kevin Tabb, CEO of BIDMC. “A combined system would be built on shared values and a mutual commitment to advancing care through research and education. Together, we would offer patients comprehensive, coordinated services across complementary geographies and help contain rising health care costs.”

The combination of the BIDMC and Lahey systems will require various state and federal reviews and approvals.

 

 
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