UChicago, Advent announce joint venture
Last updated 1/11/2023 at 3:57pm | View PDF
The University of Chicago Medicine and AdventHealth have closed on a transaction to form a joint venture called UChicago Medicine AdventHealth.
The two organizations announced a definitive agreement to affiliate in September, with plans for UChicago Medicine to acquire a controlling interest in AdventHealth’s Great Lakes Region, which includes its four Illinois hospitals in Hinsdale, La Grange, Bolingbrook and Glendale Heights, along with a network of nearly 50 physicians’ offices and outpatient locations.
The AdventHealth facilities will be co-branded as UChicago Medicine AdventHealth to build upon the complementary strengths of the two organizations, with UChicago Medicine’s national reputation as an academic health system and AdventHealth’s focus on delivering outstanding medical care in community settings.
“With the launch of this affiliation, we are blessed to continue to build on the rich legacy of whole-person care and further our mission and commitment to making these communities healthier for years to come,” said Terry Shaw, president/CEO of AdventHealth.
Under the new joint venture, which became official Jan. 1, UChicago Medicine gains a controlling interest in AdventHealth’s Great Lakes Region. AdventHealth retains the remaining ownership and will continue to manage daily operations of all facilities. Both organizations will maintain their separate system-level governance and administrative structures.
Physicians of UChicago Medicine and AdventHealth Great Lakes will partner and coordinate care across both organizations to deliver high-quality, value-based care. This collaboration also will lead to an excellent patient experience and improved outcomes for patients.
“The biggest benefit of this partnership is to patients,” said Tom Jackiewicz, president of the University of Chicago Medical Center, the hub of the UChicago Medicine health system. “AdventHealth Great Lakes’ patients now will have seamless access to UChicago Medicine’s specialty and subspecialty care and the latest clinical trials without the commute.”
Medical teams from both organizations will be working in the coming months to expand programs and services, recruit more physicians and deliver even better care. To lead that effort, Dr. Sandra Valaitis has been appointed UChicago Medicine’s chief physician for the affiliation. Valaitis currently serves as UChicago Medicine’s section chief of gynecology and reconstructive pelvic surgery and vice chair of faculty affairs. She will work closely with Dr. Bela Nand, chief medical officer at UChicago Medicine AdventHealth Hinsdale and La Grange, who will lead the clinical integration efforts for the AdventHealth facilities.