University of Chicago Medicine has acquired a controlling involvement successful 4 westbound suburban hospitals, expanding the wellness system’s footprint successful Illinois.
University of Chicago Medicine present owns a chunk of AdventHealth’s Great Lakes Region, which includes 4 hospitals successful Bolingbrook, Glendale Heights, Hinsdale and La Grange, arsenic good arsenic a web of astir 50 physicians’ offices and outpatient sites.
Those 4 hospitals and different westbound suburban sites volition present see successful their names the rubric UChicago Medicine AdventHealth. AdventHealth inactive owns portion of the hospitals and volition proceed to negociate regular operations.
The caller statement became authoritative Jan. 1, and was announced successful September. Financial presumption of the woody are not being disclosed.
Hospital systems leaders accidental the woody volition springiness AdventHealth patients amended entree to UChicago Medicine specialists and objective trials, person to home, and it volition springiness UChicago Medicine patients who unrecorded successful the westbound suburbs much attraction options successful their ain communities.
The 4 westbound suburban hospitals were antecedently portion of Amita Health, which was a concern betwixt AdventHealth and Ascension, earlier those 2 systems unwound the partnership past year.
The acquisition is UChicago Medicine’s latest determination to turn and scope farther into the suburbs. The system, which includes University of Chicago Medical Center, acquired Ingalls Memorial Hospital successful Harvey successful 2016 and broke crushed successful August connected a 130,000-square-foot medical facility successful Crown Point, Indiana.
In February, UChicago Medicine announced plans to physique a $633 million, 500,000-square-foot crab infirmary successful Hyde Park to code wellness inequities connected the South Side and gully patients from crossed the region.
It’s communal for wellness systems to turn by acquiring different hospitals successful the area. Hospital leaders accidental the deals assistance them summation economies of scale, scope much patients and accommodate to changing technologies. Hospitals often accidental they anticipation to amended attraction and affordability by merging, though mergers and acquisitions besides often increase hospitals’ bargaining power with insurers, allowing them to complaint higher rates for services.
AdventHealth is affiliated with the Seventh-day Adventist Church and has much than 50 hospitals and hundreds of attraction sites successful 9 states. Only its Great Lakes Region was progressive successful the woody with UChicago Medicine.
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