OSF HealthCare and CORE Construction have recently signed a Letter of Intent to formalize a partnership between the two organizations. Pending state approval, the new joint venture, POINTCORE Construction, will launch around May 1, 2019 and be headquartered in Peoria. Throughout the month of February, OSF and CORE were finalizing an operating agreement and operating model for the new company.
Founded in central Illinois, CORE Construction employs nearly 1,300 people across the country. Utilizing its comprehensive construction knowledge and industry expertise, CORE has a long history of providing building services throughout the OSF ministry.
“By aligning our construction needs with a single partner, we will be able to assure consistent adherence to quality standards and better control costs,” notes Bob Sehring, CEO of OSF HealthCare. “This partnership will also allow us to provide greater speed and value to our OSF projects—impacting access and improving the health of communities we serve.”
“We understand the importance of OSF’s mission and its impact on the communities they serve, and we are committed to honoring their foundational principles,” adds Jim Jacobs, CEO of CORE Construction. “This partnership will allow us to deliver the highest-quality program management and construction services in full alignment with the goals, values and needs of OSF.”
While this decision aligns OSF HealthCare with a single general contractor, the health system promises to continue its commitment to diversity in terms of the amount and type of subcontractors with which it partners, including ensuring the support and usage of local union labor. iBi