A hospital owned by Catholic Health Initiatives in Colorado. Photo: Craig F. Walker/The Denver Post via Getty Images
Dignity Health and Catholic Health Initiatives officially merged Friday under the new hospital system name CommonSpirit Health, after roughly 2.5 years of negotiations.
The big picture: The organization, which passed reviews from antitrust regulators and Catholic Church leaders, is now one of the largest not-for-profit health systems, with 142 hospitals, 25,000 physicians and $29 billion in annual revenue. However, CHI is still struggling financially, recording $870 million in operating losses over its past two fiscal years. And research suggests the merger won't save a lot on routine costs.