Partnering with or selling to another hospital or health system would “ensure the long-term viability of essential services at Franciscan St. James Health,” said Franciscan Alliance CEO Kevin Leahy in a statement. “We are looking for an organization that can provide the capital investment and more extensive local network Franciscan St. James needs to prosper.”
The release notes Franciscan has incurred continued and significant operating losses despite $300 million in investment in St. James’ hospitals since 1994.
The hospitals are Franciscan’s only two located in Illinois, rather than Indiana where its other 11 hospitals are. As a result, the release implied, the Illinois hospitals benefit less from scalability of the Indiana-based system.
More Articles on Hospital Transactions:
Presence Health, Iroquois Memorial Hospital Dip Toes Into Affiliation Talks
Billings Clinic, Glendive Medical Center Sign Partnership Deal
AHA: Hospital Transactions Benefited Patients
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.