(Peoria, Ill. | February 1, 2019) - OSF HealthCare and CORE Construction have signed a Letter of Intent to formalize a partnership between the two that will help achieve new efficiencies benefitting communities served by OSF HealthCare.
Pending state approval, the new joint venture, POINTCORE Construction, will launch around May 1, 2019 and be headquartered in Peoria, Ill. Over the next month, OSF and CORE will be finalizing an amicable operating agreement and operating model for the new company.
Started in central Illinois, CORE Construction employs nearly 1,300 people in markets across the country. Utilizing 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. 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,” said Bob Sehring, CEO, OSF HealthCare.
“We understand the importance of OSF’s Mission and its impact on the communities they serve and we, at CORE, are committed to honoring their foundational principles. 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,” said Jim Jacobs, CEO, CORE Construction.
While this decision aligns OSF HealthCare with a single general contractor, OSF will continue its commitment to diversity in terms of the amount and type of subcontractors partnered with, including ensuring support and usage of local union labor.