CHRISTUS Health and Pontifica Universidad Católica de Chile Finalize Partnership in Chile December 20, 2013

CHRISTUS Health and Pontificia Universidad Católica de Chile (UC) announced today that they have signed documents to finalize their partnership in Chile. The documents were signed during a brief visit to the United States by Ignacio Sanchez, President of Pontificia Universidad Católica de Chile, and Ernie Sadau, President and CEO of CHRISTUS Health.

In February, CHRISTUS Health and UC signed a Memorandum of Under-standing to guide negotiations toward a definitive joint venture agreement for the ownership, operation and expansion of UC’s health network, Red Salud UC. The documents signed today complete the partnership, as CHRISTUS Health and UC become equity partners in a new health network called Salud UC.

“We formed this alliance thinking about what was best for CHRISTUS Health, for health care globally, and for our mission, to extending the ministry of health of Jesus Christ,” said Ernie Sadau, president and CEO of CHRISTUS Health. “We are aware that there are great needs in the health area in Chile, as well as in the rest of the continent. This is why CHRISTUS Health is proud to partner with such a prestigious health system to deliver world-class medicine."

“It is great to be able to keep moving forward with this project alongside an organization belonging to the Catholic Church, which we are united to by our principles and values,” said Ignacio Sanchez, president of Pontificia Universidad Católica de Chile. “After Ernie Sadau’s first visit in February of this year, and later, when he visited us at the beginning of the month, we worked intensely in order to make these advances possible. We now start to see this project materialize, and together, we will continue to develop the best health care for those in Chile and beyond.”

UC began searching for a strategic partner two years ago, as they recognized that the swiftly changing health care landscape and growing competitiveness in the health care sector required new forms of management and significant investments to maintain and grow performance. Many stakeholders were considered, and 12 initial proposals were evaluated. In October 2012, UC selected CHRISTUS as the sole finalist to pursue negotiations toward a definitive joint venture agreement for the ownership, operation and expansion of UC’s health network.