Hospitals seek mergers to save costs
Marion County hospital systems anticipate more mergers, possibly with each other.
Marion County hospital systems anticipate more mergers, possibly with each other.
Indianapolis-area hospitals have suffered a double whammy of spiking interest rates on their bonds and heavy losses in their
investment portfolios and are trying to save cash any way they can.
This month, 65-year-old Bill Corley gave his 18 months’ notice that he will be retiring as CEO of Community Health Network,
the third-largest hospital network based in Indianapolis. Perhaps Community’s board of directors needed so much time to replace
a man who has held his post so long-nearly 25 years. When Corley arrived in 1984, Community consisted of just one hospital
on Indianapolis’ east side. Today, it has five.
Clarian Health has acquired a controlling stake in a cardiology practice based at the Indiana Heart Hospital, which is owned
by Clarian competitor Community Health Network.