St. Joseph's is the New Emory...(Sort of)

Ten months after the two health care organizations announced plans to form a joint operating company, and Emory Healthcare completed the terms of their partnership last week. The move, which became effective Jan. 1, combines the renowned “heart hospital” of Saint Joseph’s with the Emory Johns Creek Hospital, under the Emory Healthcare umbrella. 

“We are pleased with the progress of this partnership and look forward to the many benefits it will bring to both organizations and our patients,” said John T. Fox, Emory Healthcare president and CEO, in a prepared statement.

According to the release, the proposed arrangement will give Emory Healthcare a majority ownership of Saint Joseph’s, with a 51/49 fraction split.  Saint Joseph’s will retain involvement in governance of the JOC, including super majority voting rights on issues critical to Saint Joseph’s mission, values and Catholic religious and ethical directives.  The JOC has received the required regulatory approvals as well as approval from the Vatican.