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Advocate Aurora sells 2 hospitals for $190M

Urbana, Ill.-based Carle Health has completed its $190 million acquisition of two hospitals from Advocate Aurora Health, which has dual headquarters in Downers Grove, Ill., and Milwaukee. 

Carle acquired BroMenn Medical Center in Normal, Ill., Advocate Eureka (Ill.) Hospital and their affiliate sites. The deal closed about six months after Carle entered into a definitive agreement with Advocate Aurora. 

The purchase price was released in April in applications to transfer ownership filed with state regulators. At that time, Carle said it planned to employ about 70 physicians from Advocate's medical group who provide care in the areas served by the two hospitals. 

With the deal complete, the hospitals have been renamed Carle BroMenn Medical Center and Carle Eureka Hospital. 

"Each of these facilities has such strong histories in central Illinois," said James C. Leonard, MD, president and CEO of Carle Health, in a news release. "We have a long shared history of working together through clinical partnerships. Our shared, unwavering commitment to our patients, to innovation and to our communities has laid a strong foundation that will allow us to evolve together and redefine healthcare for those in our region."

More articles on healthcare industry transactions:
CHS sells hospital to Orlando Health
FTC, Justice Department have new guidelines for vertical mergers
CommonSpirit strikes partnership to offer direct-to-employer primary care

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