By HFT Staff

SoutheastHEALTH announced that it signed a definitive agreement with St. Louis-based Mercy to become a member of Mercy’s multi-hospital system. The two organizations have been finalizing details with respect to an affiliation since they announced in January they signed a letter of intent. By affiliating with Mercy, SoutheastHEALTH would become part of one of the largest health care systems in the U.S. 

The transaction is subject to customary closing conditions, including regulatory and other required third-party approvals. Following such approvals, both organizations will be prepared to engage in a transition planning process that includes Mercy hosting community roundtable listening tours which are a tradition when it welcomes a new hospital into its health system. These events typically include business and civic leaders, physicians, elected officials and other community representatives, who are invited to meet with hospital leaders to help determine the next steps in the community master planning process. 

Morgan Stanley & Co. LLC is serving as exclusive financial advisor to SoutheastHEALTH on this transaction. Greensfelder, Hemker & Gale, P.C. is serving as its legal counsel. Thompson Coburn LLP is serving as legal counsel to Mercy.