After months of discussion and market research, the hospitals planning to merge and create a large new Massachusetts health system have settled on a company name: Beth Israel Lahey Health.
Beth Israel Deaconess Medical Center of Boston and Lahey Health system of Burlington are leading the merger, which is still under review by state and federal regulators.
They are planning a system of more than a dozen hospitals, including New England Baptist Hospital of Boston, Mount Auburn Hospital of Cambridge, and Anna Jaques Hospital of Newburyport.
Until now, the hospitals have referred to their proposed new system as “NewCo.”
“The name Beth Israel Lahey Health signifies a new beginning while harnessing the strength of our revered legacies,” Dr. Kevin Tabb, chief executive of Beth Israel Deaconess Medical Center, said in a statement.
The hospitals in the system each will keep their individual names, Tabb added.
Tabb is expected to become chief executive of the new merged company.
The merger received a key approval in April when the state Public Health Council endorsed the proposal after a detailed review. The deal is still being studied by Attorney General Maura Healey and the state Health Policy Commission, a watchdog agency that tracks how hospital mergers affect costs and access to care.
Beth Israel Deaconess and Lahey executives have described their proposed new company as a high-quality and relatively lower-cost hospital system that can serve patients from New Hampshire to Cape Cod. By revenue, their system would be second in Massachusetts to Partners HealthCare, the parent company of Massachusetts General, Brigham and Women’s, and several other hospitals.
The Beth Israel Deaconess-Lahey merger has been criticized by some, including a coalition that says it represents diverse and low-income communities, and rival hospital Tufts Medical Center. Critics say the merger would raise costs and result in a market dominated by just two health care providers.Priyanka Dayal McCluskey can be reached at firstname.lastname@example.org. Follow her on Twitter @priyanka_dayal.