ATLANTA — Emory Healthcare and Saint Joseph's Health System have finalized the terms of their partnership.
The announcement comes nearly 10 months after the two organizations announced their intent to form a joint operating company. The move, effective Jan. 1, 2012, forms the largest, most clinically comprehensive health system in Georgia.
The proposed arrangement will give Emory Healthcare a majority ownership of Saint Joseph's, with a 51/49 fraction split. Saint Joseph's will retain involvement in governance of the joint operating company, including super majority voting rights on issues critical to Saint Joseph's mission, values and Roman Catholic religious and ethical directives.
The partnership has received the required regulatory approvals as well as approval from the Vatican.