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August 04, 2015 10:27 PM ET

Healthcare Providers and Services

Company Overview of Ascension Health, Inc.

Company Overview

Ascension Health, Inc. operates healthcare facilities that provides healthcare services in the United States. Ascension Health, Inc. was formerly known as Daughters of Charity National Health System, Inc. and changed its name to Ascension Health, Inc. in November 1999. The company was founded in 1986 and is based in St. Louis, Missouri with hospitals and facilities in the United States and the District of Columbia.

4600 Edmundson Road

St. Louis, MO 63134

United States

Founded in 1986

Phone:

314-733-8000

Fax:

314-733-8013

Key Executives for Ascension Health, Inc.

Chief Executive Officer, President and Executive Vice President of Ascension Health Alliance
Managing Partner of Transformational Development and Vice President of Research
Chief Financial Officer and Senior Vice President
Chief Operating Officer and President of Healthcare Operations
Chief Information Officer, Senior Vice President and Chief Executive Officer of Ascension Information Services (AIS)
Compensation as of Fiscal Year 2015.

Ascension Health, Inc. Key Developments

Tenet Healthcare Corporation, Dignity Health and Ascension to Form Partnership to Own and Operate Carondelet Health Network in Arizona

Tenet Healthcare Corporation, Dignity Health and Ascension have signed a definitive agreement to create a partnership that will own and operate Carondelet Health Network based in Tucson, Arizona. Tenet will be the majority partner in the new joint venture and will manage the operations of three hospitals, related physician practices, outpatient and ambulatory services, and other affiliated businesses in Tucson and Nogales, Arizona. Dignity Health and Ascension will own minority interests in the partnership. A Tucson–based joint venture will connect Carondelet to ACN, which will provide increased access to care for patients, strengthen and grow Carondelet’s relationships with physicians, provide employee development opportunities for current and future employees, and fund strategic growth initiatives across Southern Arizona. The facilities in the new partnership will include: St. Joseph’s Hospital (486 beds) in Tucson; St. Mary’s Hospital (400 beds) in Tucson; Holy Cross Hospital (25 beds) in Nogales; Carondelet Heart & Vascular Institute at St. Mary’s Hospital; Carondelet Neurological Institute at St. Joseph’s Hospital; Carondelet Medical Group; Carondelet Specialist Group. The joint venture will maintain Carondelet’s Roman Catholic heritage and identity through an agreement with the Diocese of Tucson. Additionally, Carondelet’s existing charity care policies will remain in place. The transaction is subject to normal regulatory reviews and is expected to close in the third quarter of 2015.

Ascension Reports Earnings Results for the Third Quarter of 2015

Ascension reported earnings results for the third quarter of 2015. The company reported a third-quarter operating income of $133.1 million, down from $138.1 million in the prior-year quarter. Revenue rose 2%, to nearly $5.1 billion, $4.9 billion of which was from patient service revenue, up 5%.

Ascension Health Inc. Appoints Bonnie Phipps as Senior Vice President and Group Operating Executive

Saint Agnes Hospital CEO Bonnie Phipps has been promoted to a senior leadership position in the Ascension Health Inc. As a senior vice president and group operating executive, Phipps will oversee eight hospitals, including Saint Agnes, that are part of Ascension's network. Phipps' new role took effect May 1, 2015.

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