Catholic healthcare providers merge
Perth-based St John of God Health Care is merging health services with Sydney-based Hospitaller Order of St John of God in a move that will create a trans-Tasman network of 14 hospitals employing 8,000 staff.
WA Business News reports that the new acquisitions will become wholly-owned subsidiaries of St John of God Health Care Inc and will add about $55 million in revenue to the Catholic not-for-profit organisation.
The group's new entities include two private psychiatric hospitals in Sydney, disability services providers in both Melbourne and Christchurch, and a youth and community social services agency, also based in Christchurch.
The merger brings the number of St John of God Health Care employees to 8,000, about half of which are based in WA.
St John of God Health Care group chief executive officer, Dr Michael Stanford, said the merger would provide a new growth path for the organisation and diversify its risk.
"It increases our spread of services. We are now able to offer more types of services," he told WA Business News.
Dr Stanford said the group's budget for 2007-08 would be $710 million, up from about $600 million last financial year.
He said the increase in turnover was the result of the organisation's new acquisitions and growth within its existing services.
WA's St John of God merges with NSW's Hospitaller Order (WA Business News, 2/7/07)
LINKS (not necessarily endorsed by Church Resources)
St John of God Healthcare
St John of God Health Services
St John of God Health Care commits $2.55m to rural health (CathNews, 16/11/04)
Another regional Catholic hospital changes hands (CathNews, 3/11/04)
3 Jul 2007