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SoutheastHEALTH signs definitive agreement to join Mercy health system

por Gus Iversen, Editor in Chief | August 09, 2023
Business Affairs
Southeast Health Cancer Center in Cape Girardeau, MO Courtesy: SoutheastHEALTH
Cape Girardeau, Missouri-based SoutheastHEALTH has signed a definitive agreement with St. Louis-based Mercy to join its health system, bringing one of the nation's 25 largest health systems into the southeastern region of the state.

SoutheastHEALTH has over 51 care locations in 11 Missouri communities, including two hospitals: Southeast Hospital in Cape Girardeau and Southeast Health Center of Stoddard County in Dexter, Missouri. SoutheastHEALTH, which has about 2,600 total employees, serves the four-state area also including Illinois, Arkansas and Tennessee.

The two organizations have been finalizing details with respect to an affiliation since they announced in January they signed a letter of intent.

“This is an exciting day for the community, for patients and for co-workers,” said Ken Bateman, SoutheastHEALTH president and CEO. “Bringing the two health systems together will create a regional hub for offering expanded access to health care services in Southeast Missouri and the greater region Mercy serves.”

Bateman cited the strengths that Mercy, with $8 billion in operating revenue, brings to Southeast, including increased patient access, highest quality of care as recognized by Leapfrog and the Centers for Medicare and Medicaid Services, a sophisticated operating model, lower cost of capital and significant clinical benefits.

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.

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