Northwestern Memorial HealthCare Acquires Suburban Chicago Hospital
State regulators have approved Northwestern Memorial HealthCare's acquisition of 215-bed Lake Forest Hospital in Grayslake, Ill., in exchange for agreeing to rebuild the hospital within 10 years, according to a report by the Chicago Tribune.
The acquisition would help the downtown Chicago teaching hospital enter the city's affluent northern suburbs, where Northwestern has purchased a 10-care site in 2007 for $9 million and hopes to carry out a strategy of setting up clinics that bring healthcare closer to where people live.
State documents list the "enterprise value" of 67-year-old Lake Forest Hospital as in the range of $216-$242 million.
Read the Chicago Tribune's report on Lake Forest Hospital.
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