St. Margaret's Health in Spring Valley, a member of SMP Health System, and Illinois Valley Community Hospital (IVCH) in Peru have signed a non-binding letter of intent to consolidate their health care operations and form a regional health network.
A news release issued Monday stated that over the coming months, the hospitals will perform appropriate due diligence and define details of the proposed affiliation that will strengthen health care services across the region.
"St. Margaret's and IVCH have proudly served this region for more than 100 years. The delivery of care has changed dramatically over that time, and we believe we can provide our patients even better care close to home by coming together," said Tim Muntz, St. Margaret’s president/CEO.
Aaron Alton, president/CEO of SMP Health System, commented: "Since the first sisters of Mary of the Presentation arrived in 1903, St. Margaret's has been proudly serving the area with quality care in the Catholic tradition. We are excited about this opportunity to provide compassionate care to the communities and surrounding areas served by St. Margaret's and IVCH, in the same spirit of the SMP sisters."
St. Margaret's and IVCH already collaborate on other joint initiatives, such as Valley Regional Health Services and Valley Regional Cancer Center. These collaborations have supported a shared vision for efficiently delivering high quality health care in the region.
"By IVCH joining St. Margaret's and becoming part of the SMP Health System, the combined network will be able to deliver high quality, efficient and coordinated care locally beyond what we were able to do separately," said Tommy Hobbs, IVCH CEO.
Jim Loveland, chairman of the IVCH Board of Directors, said, “We took to heart our communities’ long-time call for IVCH and St. Margaret’s to work together more closely.”
Joyce McCullough, chairwoman of the St. Margaret’s Board of Directors, reinforced this sentiment. “With a shared commitment to this region, we will collaborate to deliver to patients across the Illinois Valley the outstanding care they need and deserve," she said.
Following receipt of approval from church and regulatory authorities, the goal of the two organizations is to sign a binding definitive agreement in the months ahead, the news release stated.