Wednesday, October 23, 2019
Roper St. Francis Healthcare announces restructured ownership
The Medical Society of South Carolina and Bon Secours Mercy Health, one of the 20 largest health care systems in the nation, announced today that they plan to restructure their Roper St. Francis Healthcare joint venture, pending necessary approvals and the completion of due diligence. When the restructure is final, Bon Secours Mercy Health and the Medical Society of South Carolina will jointly own and operate Roper St. Francis, with Bon Secours Mercy Health holding a 51 percent stake in the system.
Bon Secours Mercy Health, the Medical Society of South Carolina and Atrium Health established the joint venture in 1998, and the three entities have enjoyed a collaborative relationship over 21 years. Through the restructure, Atrium Health will fully divest its 10 percent ownership in this venture.
“Charleston – and the entire tri-county area – is growing rapidly and we are excited to increase our commitment to this community,” said John Starcher, President and CEO, Bon Secours Mercy Health. “The opportunity to scale strategically in a growing market like this is another key step toward strengthening our ministry for the long-term. We see this as a prime market in which we will continue to make significant capital investments that benefit the health and well-being of greater Charleston area residents for years to come.”
Bon Secours Mercy Health and the Medical Society of South Carolina will continue to strengthen their population health initiatives and work collaboratively with managed care partners, affiliated physicians and community partners and donors to ensure long-term access to quality, affordable care for more people across the tri-county area.
The partnership represents a compelling opportunity to unite the complementary strengths of both organizations for the benefit of Roper St. Francis and the Charleston community. Together, the two organizations have a shared vision for creating the preeminent health care system in the coastal South Carolina region, capable of delivering superior quality and value, achieving economies of scale and enhancing access for a growing population.
“We are pleased to expand our partnership with Bon Secours Mercy Health to ensure continuity of high-quality care for the growing Charleston area,” said Henry West, MD, Medical Society of South Carolina President. “Our long-term vision is aligned, and we will work to ensure a high level of collaboration across our Integrated Physician Network, which will be critical to the long-term success of our health care system. Roper St. Francis and the Medical Society of South Carolina are proud members of the Charleston community, and we have an uncompromising commitment to placing our patients and communities at the center of everything we do. We want to also thank Atrium Health for the work they have done over the last 21 years as a founding member of this joint venture to improve the health of our community.”
Roper St. Francis Healthcare CEO Lorraine Lutton has accepted the role of Bon Secours Mercy Health market operations executive, effective January 1. Over the last three years, Ms. Lutton’s leadership and vision helped the system gain greater financial stability, exceed its quality goals, strengthen teammate engagement, develop the Integrated Physician Network and opened the new Roper St. Francis Berkeley Hospital, which is already exceeding volume projections. A national search for a new CEO will be conducted.
Roper St. Francis includes Roper Hospital, Bon Secours St. Francis Hospital, Roper St. Francis Mount Pleasant Hospital and the newly opened Roper St. Francis Berkeley Hospital.
The transaction is expected to be complete by the end of the year.