Children’s Hospital of Orange County (CHOC) today announced it plans to merge with Rady Children’s Hospital-San Diego “to transform pediatric health in Southern California.”
The two hospitals, which will be called Rady’s Children Health, said they are merging to accelerate research and innovation that lead to new treatments and cures; retain and attract top talent across all functions and specialties; increase access to pediatric care; promote health equity; and train the next generation of pediatric physicians and healthcare workers.
CHOC’s Chief Executive Kimberly Chavalas Cripe and Rady Children’s CEO Dr. Patricio A. Frias will be appointed co-CEOs of the new parent company.
“CHOC and Rady Children’s – both nationally recognized for clinical excellence and compassionate care – have put forward a shared vision that puts children and their families first, ensuring them access to the very best practitioners, treatments and technology available in pediatric medicine,” Rady Children’s Board of Trustees Chair Paul Hering said in a statement.
Added CHOC Board of Directors Chair Doug McCombs, “CHOC and Rady Children’s have similar missions and visions and complementary cultures focused on innovation, and a dynamic history of collaboration that has enhanced children’s health in our communities.”
For more than a decade, CHOC and Rady Children’s have collaborated on critical initiatives that advance pediatric care, research, and innovation, such as, project Baby Bear, a rapid Whole Genome Sequencing (rWGS) initiative that quickly diagnoses infants with rare diseases, and the Transforming Clinical Practice Initiative grant.
The proposed merger will undergo customary regulatory review and the transaction is expected to close in 2024.
See the print version of the Orange County Business Journal’s Jan. 1 issue for more details.
