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Non-Profit Foundation
HEALTHCARE | Medical Facilities & Services / Hospitals
commonspirit.org

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Partners & Customers

10

About CommonSpirit Health

CommonSpirit Health is an organization dedicated to building healthy communities and advocating for the poor and vulnerable.On October 27, 2020 CommonSpirit Health was acquired by RadNet. The terms of the transaction were not disclosed.

CommonSpirit Health Headquarter Location

444 West Lake Street Suite 2500

Chicago, Illinois, 60606,

United States

+1 312 741 7000

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CommonSpirit Health Web Traffic

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Latest CommonSpirit Health News

CommonSpirit Health bounces back in FY21 with $1B operating gains

Sep 17, 2021

Sep 17, 2021 3:48pm CommonSpirit Health enjoyed a 10.3% increase in net patient and premium revenues, which the system said was primarily bolstered by higher acuity, new hospital affiliations and a stable payor mix. (Getty/holwichaikawee) CommonSpirit Health has posted an operating revenue gain of $998 million and operating margin of 3% for the fiscal year ending June 30—a stark turnaround from the $550 million loss and −1.9% operating margin of the year prior. That total includes $523 million tied to pre-tax gains from the sale of joint venture sales, the Catholic nonprofit noted in its annual filing, although excluding that sale still leaves the system with a $475 million operating gain. Total operating revenues for the year landed at $33.3 billion, up from fiscal year 2020’s $29.6 billion. Here, CommonSpirit Health enjoyed a 10.3% increase in net patient and premium revenues, which the system said was primarily bolstered by higher acuity, new hospital affiliations and a stable payor mix. Lingering volume shortfalls did partially offset those gains, the system wrote. Operating expenses also increased year over year albeit not to the same extent—$30.1 billion in 2020 to $32.3 billion in 2021 for a 9.2% increase. These were largely driven by a 9.7% bump in salary and benefits expenses and a 12.6% increase in supply spending.

CommonSpirit Health Acquisitions

2 Acquisitions

CommonSpirit Health acquired 2 companies. Their latest acquisition was Dignity Health on February 01, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/1/2019

Merger

$991

Merger - II

1

2/1/2019

Grant

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$991

$99M

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10

Date

2/1/2019

2/1/2019

Investment Stage

Merger

Grant

Companies

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Valuation

$991

$991

Total Funding

$99M

Note

Merger - II

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Sources

1

10

CommonSpirit Health Partners & Customers

10 Partners and customers

CommonSpirit Health has 10 strategic partners and customers. CommonSpirit Health recently partnered with Essentia Health on May 5, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

5/18/2021

Partner

Essentia Health

United States

CommonSpirit, Essentia call off 14-hospital deal

`` While we share a similar mission , vision , values and strong commitment to sustainable rural health care , CommonSpirit Health and Essentia Health were unable to come to an agreement that would serve the best interests of both organizations , the people we employ and the patients we serve , '' they said .

2

2/23/2021

Partner

VeeMed

United States

VeeMed and CommonSpirit Health™ Partner to Launch Tele-ICU Telephysician Services - VeeMed

A new partnership between global telehealth company VeeMed and the Dignity Health , a leg of CommonSpirit Health , is making it possible for these patients to get the specialist care they need without being transferred .

2

12/16/2020

Partner

Morehouse School of Medicine

United States

Historically Black Medical School Partners with National Health System to Train More Black Physicians

Morehouse School of Medicine and CommonSpirit Health will establish five new regional medical school campuses and graduate medical education programs in at least 10 markets in partnership with CommonSpirit Health healthcare facilities , to be announced in spring 2021 .

7

10/14/2020

Partner

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10

10/14/2020

Partner

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10

Date

5/18/2021

2/23/2021

12/16/2020

10/14/2020

10/14/2020

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Essentia Health

VeeMed

Morehouse School of Medicine

Country

United States

United States

United States

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News Snippet

CommonSpirit, Essentia call off 14-hospital deal

`` While we share a similar mission , vision , values and strong commitment to sustainable rural health care , CommonSpirit Health and Essentia Health were unable to come to an agreement that would serve the best interests of both organizations , the people we employ and the patients we serve , '' they said .

VeeMed and CommonSpirit Health™ Partner to Launch Tele-ICU Telephysician Services - VeeMed

A new partnership between global telehealth company VeeMed and the Dignity Health , a leg of CommonSpirit Health , is making it possible for these patients to get the specialist care they need without being transferred .

Historically Black Medical School Partners with National Health System to Train More Black Physicians

Morehouse School of Medicine and CommonSpirit Health will establish five new regional medical school campuses and graduate medical education programs in at least 10 markets in partnership with CommonSpirit Health healthcare facilities , to be announced in spring 2021 .

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Sources

2

2

7

10

10

CommonSpirit Health Team

18 Team Members

CommonSpirit Health has 18 team members, including current Chief Executive Officer, Lloyd Dean.

Name

Work History

Title

Status

Lloyd Dean

Chief Executive Officer

Current

Marvin O Quinn

President, Chief Operating Officer

Current

Julie Sprengel

President

Current

Todd Strumwasser MD

President

Current

Darryl Robinson

Executive Vice President

Current

Name

Lloyd Dean

Marvin O Quinn

Julie Sprengel

Todd Strumwasser MD

Darryl Robinson

Work History

Title

Chief Executive Officer

President, Chief Operating Officer

President

President

Executive Vice President

Status

Current

Current

Current

Current

Current

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