January 30, 2019
Dallas-based Tenet Healthcare Corporation has completed the sale of its three remaining Chicago-area acute care hospitals—one on the North Side and two in the suburbs—to Pipeline Health LLC. The sale price wasn’t disclosed. The portfolio represents Los Angeles-based Pipeline’s first Chicago-area acquisition.
Included in the sale were Louis A. Weiss Memorial Hospital in Uptown; Westlake Hospital in Melrose Park; and West Suburban Medical Center in Oak Park. Among them, they total 700 beds.
Pipeline partnered with Dr. Eric Whitaker, a public healthcare advocate and friend of former President Barack Obama, on the acquisition. Whitaker has also joined Pipeline as a vice chair, based in Chicago.
“The rapidly-changing healthcare environment has left many community hospitals struggling financially,” said Whitaker. “Pipeline Health has a track record of success by rethinking how healthcare is delivered at the right time, in the right place, for the right cost.”
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