Page 48 - CEO Orientation

7. OUR SHARED PLAN MOVING FORWARD

Providence, St. Joseph’s and St. Michael’s have come together to lay the foundation to integrate and
build a strengthened, mission-based urban health network. The boards of directors of all three
organizations believe this voluntary integration is the best decision, not just for the future of the
organizations but most importantly for the city and people they serve.

The organizations are now completing formal due diligence and preparation for the transition to the
new network.

The formal due diligence phase is conducted to identify any material risks to the three boards of
directors as part of their final approval of the new network. The organizations are examining legal
obligations, information technology systems and financial assets and liabilities. There are no material
issues identified.

To prepare for transition to the new network, the three organizations are developing a single set of by-
laws that will govern the organization, creating a single set of professional by-laws to govern medical
staff, preparing staff for the transition, examining how to enact patient care best practices. The three
organizations are also examining options related to the three single employer pension plans.

Contingent on the endorsement of the Toronto Central LHIN of this proposal, the decision to integrate
will be considered by the Joint Board Steering Committee and each organization’s board before
submitting for final approval from the Minister of Health, pursuant to the Public Hospitals Act. It is
anticipated that the amalgamation will occur, at the earliest, on August 1, 2017.

An Open Network
While the case outlined herein specifically details the patient care, human resource and financial
benefits of Providence, St. Joseph’s and St. Michael’s coming together, this partnership should not be
the end but the beginning of a new and stronger multi-provider health network. As such, each
organization remains open to other partnerships that would help us deliver on our mission dedicated to
providing compassionate care, especially those who are marginalized or disadvantaged.