New owner plans $50M investment in Chicago's Mercy Hospital

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Insight, the buyer of Mercy Hospital & Medical Center in Chicago, plans to invest $50 million in the facility that was once slated to close, according to Bloomberg. 

Insight, which took over ownership from Livonia, Mich.-based Trinity Health on June 1, said it will invest the money to help increase services and meet community needs. 

Insight also said it plans to reinstate Mercy's status as a teaching hospital and will operate it as a full-service hospital through at least 2029.

Trinity Health announced plans to shutter Mercy in July 2020 and filed for Chapter 11 bankruptcy protection in February after an Illinois review board rejected its plan to close. 

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