Dignity Health and Catholic Health Initiatives officially merged Friday under the new hospital system name CommonSpirit Health, after roughly 2.5 years of negotiations.
The big picture: The organization, which passed reviews from antitrust regulators and Catholic Church leaders, is now one of the largest not-for-profit health systems, with 142 hospitals, 25,000 physicians and $29 billion in annual revenue. However, CHI is still struggling financially, recording $870 million in operating losses over its past two fiscal years. And research suggests the merger won't save a lot on routine costs.
