Resurrection Health Care Sells 2 Hospitals, Outpatient Center to Vanguard
Chicago-based Resurrection Health Care signed a non-binding letter of intent to sell two hospitals and its outpatient center to Nashville, Tenn.-based Vanguard Health System, according to news reports.
The Chicago Tribune reports that Resurrection agreed to sell the facilities due to financial pressures as a result of the current economy. Under the agreement, Vanguard will gain ownership of Westlake Hospital in Melrose Park, Ill., and West Suburban Medical Center in Oak Park, Ill., as well as control of Resurrection outpatient facilities in River Forest, Ill.
According to the Nashville Post, the acquisition will add 330 beds to Vanguard's Chicago network. The company currently runs MacNeal Hospital in Berwyn, Ill., and Weiss Hospital in Chicago.
The financial details of the deal were not disclosed. According to the Tribune's report, Westlake and West Suburban will become for-profit hospitals.
Final approval is required of Illinois state officials before the sale is finalized.
Read the Chicago Tribune's report about Resurrection's sale of two hospitals.
Read the Nashville Post's report about Resurrection's deal with Vanguard.
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