![]() Incompatible cultures may be the most common reason for mergers to fall through in many industries, said Arturs Kalnins, associate professor of strategy in the Tippie College of Business at the University of Iowa. ![]() That's why it's difficult to meaningfully integrate health system.” Richman added that, 'any new power structure institute changes the way medicine is practiced, there's going to be natural pushback. 'You get all sorts of concerns over how you control the practice of medicine.” 'Every place has its own flavor, and when hospitals try to integrate you are mixing flavors,” he said. Hospital systems have their own set of ideas around the practice of medicine, said Barak Richman, a professor at the Duke University of Law in North Carolina who is an expert on hospital consolidations. When it comes to system mergers across many industries, business and health care experts say shared mission and vision are key to success. Vermeer's memo went on to say UnityPoint has 'created a culture built on shared values and people-first brand promise.” You will begin to receive our Daily News updates. Add your contacts. Still, we'll look to how we might be able to partner together in the future across shared goals for the patients and communities we each serve.” 'In this case, we deeply respect Sanford Health, but this specific partnership opportunity did not work out. ![]() 'For us to grow as a system, we look for three things: strategic alignment, a strong cultural fit and the right timing. 'As the saying goes, timing matters,” Vermeer wrote in the memo. UnityPoint Health officials declined to comment further on the announcement, but a spokeswoman shared an internal memo with The Gazette that was sent by President and CEO Kevin Vermeer to staff on Nov. 'We are disappointed that the UnityPoint Health board failed to embrace the vision.” 'The executive management teams and physicians worked diligently for 18 months to provide a merger recommendation to the boards. 'We were excited at the opportunity our combination would have provided to create a new health system of national prominence,” said Sanford Health President and Chief Executive Officer Kelby Krabbenhoft in a statement. Sanford officials said they were disappointed UnityPoint Health ended formal negotiations.
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