FOR IMMEDIATE RELEASE
Contact: Nancy Mulvihill, Covenant Health Systems, (781) 862-1634
Nancy_mulvihill@covenanths.org
Contact: Joe M. Grillo, Nicolazzo & Associates, (617) 951-0000
jgrillo@nicolazzo.com
COVENANT HEALTH SYSTEMS AND SAINTS HEALTH SYSTEM
SIGN DEFINITIVE AGREEMENT TO CREATE AFFILIATION
No Changes Planned in Staff or Services at Saints;
Agreement Assures Continuation of
Catholic Health Care in Greater Lowell Region
May 6, 2009 -- Covenant Health Systems, Lexington, Mass., and Saints Health System, Lowell, Mass., today announced they have signed a definitive agreement to form an affiliation that will ensure the continuation of Catholic health care in the Greater Lowell region. (Saints Health System is the non-profit parent of Saints Medical Center.)
The signing of the agreement was announced jointly at Saints Health System by David R. Lincoln, Covenant president/CEO, Gary Campbell, chair, Saints Board of Trustees and Sister Prescille Malo, provincial councilor, Sisters of Charity of Ottawa, Saints sponsor. The definitive agreement is the first important phase in the process of establishing the affiliation of Saints Health System with Covenant Health Systems and sets forth the terms of the relationship going forward.
When the affiliation is finalized, Covenant will co-sponsor Saints Health System with the Sisters of Charity of Ottawa for a period of six years, after which time Covenant will become the sole member of Saints Health System. The Sisters of Charity of Ottawa will continue to have a presence on the Saints Board of Trustees. The current members of the Saints Board of Trustees will continue to serve for the remainder of their terms, and Covenant will work with the Saints board to continue to identify local individuals who are willing and qualified to serve as board members. Covenant will operate Saints Medical Center as a Catholic, general acute-care hospital and preserve the services which are currently provided. Following the closing of the transaction, Covenant will make ongoing investments in Saints capital projects and related health care services which have been identified by the Saints board and senior management.
Before the affiliation is finalized, approvals must be received from various regulatory agencies in Massachusetts, and the Sisters of Charity of Ottawa must receive appropriate Canonical approvals.
David R. Lincoln, Covenant president/CEO, said, “The members of Covenant Health Systems look forward to our relationship with the Sisters of Charity of Ottawa and Saints Health System. This is an opportunity to continue the Grey Nuns’ acute care mission in Lowell. Our goal is to support the continuation of high quality services to the community.”
Gary Campbell, chair, Saints Board, said, “Our affiliation with Covenant Health Systems is consistent with the hospital’s strategic plan to provide the community with the highest quality care and to ensure our continued mission. This partnership will allow Saints to obtain additional capital and further strengthen the wide range of medical services and wellness programs we offer the Greater Lowell community.”
Sister Prescille Malo said, “Saints and Covenant share a powerful commitment to providing quality, holistic health care in a compassionate environment. The affiliation with Covenant Health Systems will ensure the continuance of the mission of Catholic sponsored health care in the region that dates back to 1930.”
Following the affiliation, Saints Medical Center Foundation will continue its fundraising efforts and manage several community outreach responsibilities on behalf of the Medical Center. The Foundation has successfully raised millions of dollars in donations and pledges in major capital campaigns, and currently oversees assets in excess of $15 million. The funds raised by the Foundation will generally be used to benefit Saints Health System in support of the services it provides to the Greater Lowell community.
About Saints Health System
Saints Medical Center is a not-for-profit, full service, acute care community hospital serving Greater Lowell and the Merrimack Valley since 1839. A 163-bed licensed medical center, Saints provides advanced health services to 315,000 residents in 25 towns. With nearly 400 physicians and 1,400 employees, Saints Medical Center is well known for outstanding medical care and patient-centered facilities including its Centers of Excellence in Cancer Care, Orthopedics, Cardiovascular Services and Women’s Health. Saints also offers community-based care at several ambulatory sites and is dedicated to promoting health and wellness in the community. Saints has a clinical affiliation with leading Boston academic medical centers and is proud to be one of the top-rated hospitals in Massachusetts according to The Joint Commission.
About Covenant Health Systems
Covenant Health Systems is a not-for-profit, Catholic health care system sponsoring hospitals, nursing homes, assisted living residences and other health and elder care services throughout New England. In the area, Covenant sponsors St. Joseph Hospital in Nashua and Mary Immaculate Health/Care Services in Lawrence. Covenant, headquartered in Lexington, Mass., was originally formed by the Sisters of Charity of Montreal, “Grey Nuns.”
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We are happy to provide questions and answers on what this means to the members of our community. Should you have any further questions, please feel free to call the hospital administration.
