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$40B FY25 revenue · 138-hospital nonprofit Catholic IDN across 24 states · parent of Dignity Health and CHI · Chicago HQ · Wright Lassiter III, CEO.
CommonSpirit is the post-2019 merger of Dignity Health (San Francisco) and Catholic Health Initiatives (Englewood). Project ImpACT margin recovery, Optum RCM/IT outsourcing, EHR consolidation, and California Provider Fee dependence are the key narrative threads.
📍 Chicago, IL
FY25 results announcement explicitly named Texas (South), Pacific Northwest, and select Dignity (West) markets as Project ImpACT focus zones; Fitch + S&P expect more service-line rationalization rather than asset sales in 2026.
Moody's April 2025 update noted CommonSpirit's exit from San Francisco hospitals as part of an active portfolio-rationalization program; consistent with management's mandate to divest markets without a sustainable financial path.
CommonSpirit announced a 10-year strategic relationship transferring revenue cycle, IT infrastructure, analytics, and ~3,000 employees to Optum; deal positions Optum as the IDN's RCM/IT operator and underwrites Project ImpACT margin recovery.
S&P Global Ratings disclosed Morissette's October 2025 retirement and a pending CFO appointment; transition occurs mid-Project ImpACT, mid-Optum services migration, and just before the FY26 California provider-fee renewal.
Lassiter (formerly Henry Ford Health CEO) took the CommonSpirit CEO role in 2022 and presented the integration roadmap at the 42nd Annual JP Morgan Healthcare Conference in January 2024 alongside Morissette.
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