El Segundo, Calif.-based Pipeline Health System has completed the sale of two Chicago-area hospitals as part of its bankruptcy proceedings, according to a Jan. 3 Wednesday Journal report.
The sale of West Suburban Medical Center and Weiss Memorial Hospital to newly formed Princeton, N.J.-based entity Resilience Healthcare was finalized Dec. 29, the report said. Resilience is led by healthcare executive Manoj Prasad, and the sale of the hospitals and their buildings was in conjunction with Mr. Prasad's business partner, Rathnakar Patlola, who manages Ramco Healthcare Holdings, which bought the real estate, the report added.
Resilience has been operating the hospitals since early December, and the final overall deal has been under negotiation since March, the report said.