January 30, 2018 Comments Off on Loyola Buying Suburban Chicago Hospital from Tenet for $270M Views: 2092 Illinois, Midwest, National News

Loyola Buying Suburban Chicago Hospital from Tenet for $270M

Maywood, IL-based Loyola Medicine is seeking to acquire MacNeal Hospital from Dallas-based Tenet Healthcare for $270 million. The 374-bed facility is located in Berwyn, IL at 3249 S. Oak Park Ave.

The not-for-profit hospital system owned by Trinity Health filed an application with the Illinois Health Facilities and Services Review Board to take over the west suburban Chicago hospital. If regulators approve the deal, the sale would close March 1.

The transaction would also bring in Tenet’s locally-owned physician groups, Chicago Health System’s nearly 1,000-doctor independent practice, as well as Chicago Health System’s accountable care organization.

The deal reflects the market trend to increase scale quickly, in an effort to add more patients and doctors to treat them. The approach is designed to spread the financial risk associated with taking on the sickest people, since insurers are increasingly paying hospitals for the quality provided, rather than the amount of care.

Read more at Modern Healthcare

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