Prime Healthcare has completed the previously announced acquisition of eight hospitals in Illinois, US, from Ascension.
The deal also includes physician practices and four senior living and post-acute care facilities in the Greater Chicago area.
Prime Healthcare entered an asset purchase agreement for the acquisition in July 2024. The companies have not disclosed the financial terms of the deal.
The acute care hospitals in the acquisition include Mercy Medical Center in Aurora, Resurrection Medical Center and Saint Mary of Nazareth Hospital in Chicago, and Saint Francis Hospital in Evanston.
Two of these hospitals, St Mary’s Hospital and Saint Francis Hospital, will become part of the Prime Healthcare Foundation, a 501(c)(3) public charity.
The transaction extends beyond hospitals to include a range of post-acute, home health, and senior living facilities such as Heritage Village and Heritage Lodge, Resurrection Place, Ascension at Home Illinois, and Rainbow Hospice.
The Illinois Health Facilities and Services Review Board unanimously approved the acquisition after a thorough review.
Additionally, Prime Healthcare received endorsements from the Archdiocese of Chicago and the Vatican.
Prime Healthcare president and chief medical officer Sunny Bhatia said: “Prime Healthcare is honoured to welcome these hospitals into our award-winning system, building upon our legacy of transforming healthcare and preserving access to life-saving services.”
Prime Healthcare has offered employment to the majority of associates from the acquired facilities. The company has also pledged a $250m investment for facility upgrades, capital improvements, and technology enhancements.
Furthermore, the business will continue to offer charity care programmes, upholding the commitment to serve vulnerable populations.
Through the acquisition, the Chicagoland hospitals and facilities are now part of the health system that encompasses 51 hospitals, more than 10,500 licensed beds, and over 360 outpatient locations.
"Prime Healthcare acquires eight hospitals in Illinois from Ascension" was originally created and published by Hospital Management, a GlobalData owned brand.
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