University of Chicago Medicine plans to buy a piece of hospital system AdventHealth, which has four hospitals in the western suburbs, the system announced Tuesday.
Under the plan, UChicago Medicine would acquire a controlling interest in AdventHealth’s Great Lakes Region, which includes hospitals in Bolingbrook, Glendale Heights, Hinsdale and La Grange. AdventHealth would continue to own a stake in the region and would manage the hospitals’ daily operations
Advertisement
The deal could close late this year or early next year, pending regulatory approvals. UChicago Medicine spokeswoman Ashley Heher declined to disclose a purchase price Tuesday.
The announcement follows AdventHealth’s split earlier this year from Ascension. The two had operated together as Amita Health for years.
Advertisement
UChicago Medicine’s system includes hospitals University of Chicago Medical Center and Ingalls Memorial Hospital in Harvey.
The union would increase access to services for patients in the western suburbs, according to news release from the systems.
The combination is the latest in a series of deals, in which Illinois hospitals are joining with others, often to gain economies of scale, reach more patients and adapt to changing technologies. Hospitals often say they hope to improve care and affordability by merging, though such deals also often increase their bargaining power with insurers.
More to come.
