PIERRE, S.D. – (From St. Mary’s Healthcare Center) Catholic Health Initiatives and Avera Health announced Tuesday that the two health care systems have signed a letter of intent to explore their future relationship in the Pierre area. St. Mary’s Healthcare Center, in Pierre, is a part of Catholic Health Initiatives of Englewood, Colorado and Avera Medical Group Pierre, is a part of Avera Health of Sioux Falls, SD.
A letter of intent is a non-binding agreement and a “first step” toward formal discussions and an exchange of organizational information by Catholic Health Initiatives, St. Mary’s and Avera.
Before any agreement can be completed, the organizations must conduct extensive due diligence, secure various approvals and negotiate a final or “definitive’ agreement – a process that could take several months.
Specific details of the letter of intent cannot be disclosed at this time due to the confidentiality of the discussions.
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