Say hello to Independence Health System, the new name of the merged Butler and Excela health systems.
The two entities merged early this year, and include hospitals in Butler, Clarion, Frick, Latrobe and Westmoreland, along with numerous outpatient facilities.
The new name was announced Monday, May 22, by organization officials.
“Last June, two like-minded, independent health systems announced their intent to come together with the goal of creating a new and distinct healthcare choice for patients in Western Pennsylvania,” said Ken DeFurio, president and chief executive officer of Independence Health System. “On Jan. 1 of this year we successfully formed the new organization.”
According to officials, Independence Health system is the third largest in Western Pennsylvania, with 7,300 employees and over 1,000 physicians.
DeFurio said the new name highlights the strengths of a new system.
“As the new name denotes, we offer a scope of services and clinical programs that is locally based, locally controlled, and available to patients without having the need for them or their families to travel long distances.” he said. “Our commitment to providing the very highest level of care in our communities is unwavering.”
The new logo includes a medical cross, and circles that represent people with arms outstretched. The circles represent the how caretakers are interwoven, according to officials.
The merged hospital system recently reported a combined loss of $62 million over a nine-month period ending March 31. Moody’s Credit Bureau downgraded the health system’s credit rating from Baa2 to Baa3 on Tuesday, May 16.
Tom Albanesi, CFO, said Friday in a statement that, like other health care provider organizations, the system is facing patient levels that have not returned to pre-COVID-19 levels and Medicare reimbursements which do not cover treatment costs.
Since March, at least 14 other hospital systems have had their credit or bond ratings downgraded by a credit agency.
