Photo: Atrium Health

May 11. Advocate Aurora Health will merge with Atrium Health, creating the fifth-largest healthcare commpany in the nation. It will serve 5.5 million patients, operate more than 1,000 sites of care and 67 hospitals, employ more than 7,600 physicians and nearly 150,000 people.

The combined $27 billion enterprise will be headquartered in Charlotte. Advocate is based in Milwaukee.

“The world of healthcare as we know it is changing at warp speed – and it is rapidly becoming more digital, personalized, scientific and complex,” said Eugene A. Woods, president and chief executive officer of Atrium Health.

Gene Woods CEO

Cornelius not affected

The merger is not expected to affect plans for a 30-bed hospital in Cornelius.

The Advocate Aurora Health and Atrium Health boards unanimously approved the merger, which is subject to regulatory review. The new entity will operate under the Advocate Health name, with the Advocate, Aurora and Atrium Health brands used locally.

National leaders

“Advocate Aurora Health has a well-earned reputation as a national leader in diversity, equity and inclusion, as well as its value-based approach to care that has led to better outcomes and more affordable health care,” said Edward J. Brown III, chair of Atrium Health’s board of directors. “We share a bold vision for the future as we aspire to create a consumer-first system aimed at improving the lives of individuals across the diverse communities we serve.”

Woods will serve as co-CEO for the first 18 months, then become the sole CEO.

Wake Forest University School of Medicine will be the academic core of the combined entity.