GENEVA – After several months of discussions, Rockford Health System and Cadence Health mutually have agreed to discontinue discussions about merging, Cadence announced in a news release.
In November, the two systems had signed a letter of intent to merge.
“In many respects we are like-minded organizations,” Gary Kaatz, Rockford Health System President and CEO, stated in a news release. “We enjoy similar commitments to clinical quality, patient safety, innovative program development and employee engagement, as well as to efficient and cost-effective care. However, as we moved forward in our discussions, it became clear that we would not be able to arrive at an agreement that would provide mutual benefit to both the Rockford community and to the Cadence organization. After deeper review, we recognized that our strategic imperatives did not align.”
Cadence operates Delnor Hospital in Geneva and Central DuPage Hospital in Winfield.
“We were genuinely impressed with the clinical quality provided by Rockford Health System and their overall commitment to excellence,” said Mike Vivoda, Cadence Health President and CEO, in the same release. “We identified many synergies between our organizations – both organizations are high-performing, clinically excellent, committed to their employees and have strong financial health. We realized, though, that we have some differences that would prevent us from aligning our operational strategies. We have deep respect for the board and leadership of Rockford Health System.”