Prime Healthcare announced that it has successfully completed the historic acquisition of eight Ascension Illinois hospitals, four senior living and post-acute care facilities, and physician practices.
After an extensive review process, the Illinois Health Facilities and Services Review Board voted unanimously to approve the acquisition and the Archdiocese of Chicago and the Vatican granted endorsement.
As part of the transition, Prime Healthcare has made offers of employment to substantially all associates and has committed $250 million to invest in facility upgrades, capital improvements, substantial technology investments and system upgrades. Prime Healthcare will also maintain charity care programs, preserving the facilities' role in ensuring care for the most vulnerable.
The acquisition, which is the largest in the history of Prime Healthcare, features eight acute care hospitals: Holy Family Medical Center (Des Plaines); Mercy Medical Center (Aurora); Resurrection Medical Center (Chicago); Saint Francis Hospital (Evanston); Saint Joseph Medical Center (Joliet); Saint Joseph Hospital (Elgin); St. Mary’s Hospital (Kankakee); and Saint Mary of Nazareth Hospital (Chicago). St. Mary’s Hospital (Kankakee) and Saint Francis Hospital (Evanston) become members of Prime Healthcare Foundation, a 501(c)(3) public charity. The transaction also includes the following post-acute, home health and senior living facilities: Fox Knoll Village (Aurora), Villa Franciscan Place (Joliet), Heritage Village and Heritage Lodge (Kankakee), Resurrection Place (Park Ridge), Rainbow Hospice (Chicago), Ascension at Home Illinois (Joliet) and Ascension at Home Illinois (Kankakee).
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