Prime Healthcare has agreed to purchase a small handful of Ascension Residing communities in addition to 9 hospitals belonging to the bigger Ascension well being system.
Prime is with the deal choosing up 4 Ascension Residing communities for senior residing and care residents in Aurora, Joliet, Kankakee and Park Ridge, Illinois. The deal additionally included 9 hospitals within the state. The acquisition is the most important transaction the nonprofit has accomplished thus far, in keeping with a press launch in regards to the deal.
Phrases of the deal weren’t disclosed, and the events concerned anticipate it to shut within the first quarter of 2025.
Ascension analyzed Prime Healthcare’s values and ethics as an organization earlier than selecting it to tackle the corporate’s Illinois properties. Prime is thru the deal planning to speculate $250 million to improve the newly acquired portfolio, with a main deal with the hospitals and their expertise and techniques.
“Prime Healthcare’s Mission and dedication to scientific excellence and well being fairness will keep on this legacy, guaranteeing that the better Chicago space has sustainable, high quality healthcare entry lengthy into the long run,” mentioned Polly Davenport, president and CEO of Ascension Illinois.
The Prime footprint contains 44 hospitals, 300 outpatient places and round 45,000 workers and physicians. With its newest acquisition, Prime Healthcare is increasing into the Chicago metro space.
“Our settlement with Ascension displays our decades-long mission of saving, enhancing and investing in neighborhood hospitals and we’re excited to convey these Ascension Illinois amenities into our Prime Healthcare household, preserving our shared values and mutual dedication to patient-centered care,” mentioned Sunny Bhatia, president and chief medical officer of Prime Healthcare.
Earlier this month, Ascension introduced its latest CEO in Erin Shadbolt. On the time, the group mentioned it deliberate to faucet her expertise “in post-acute care operations, finance, development, regulatory compliance, high quality enchancment and strategic planning,” and she or he had a twin function of vice chairman of post-acute and at-home providers.
