Illinois Hospital to Acquire Clinic for $250M
December 11, 2009
Physicians at Carle Clinic in Urbana, Ill., have voted to accept a $250 million offer by Carle Foundation Hospital to acquire the clinic, according to a report by the News-Gazette.
The merger of the clinic with the hospital was first proposed by Carle Foundation in October.
The groups must now await approval for the merger by the state's Health Facilities Services and Review Board, which will determine if the merger will improve access to care for members of the community.
The merger would consolidate the for-profit clinic with the non-profit hospital, allowing physicians at the clinic to provide charitable services under the new group's non-profit status, according to the report.
Read the News-Gazette's report on the Carle Clinic and Carle Foundation Hospital merger.
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