Freeport, Ill.-based FHN plans to affiliate with Rockford, Ill.-based Mercyhealth.
Mercyhealth will invest $100 million in FHN over the next five years to support capital projects and expand services as part of the agreement, according to a Sept. 30 FHN news release.
As part of the deal, the hospital will be renamed Mercyhealth FHN. The transaction is expected to close by Dec. 31, pending regulatory approval.
The announcement follows FHN’s Sept. 22 withdrawal from a joint plan to build a 10-bed microhospital in Roscoe, Ill., with Beloite (Wis.) Health System.
By joining Mercyhealth, FHN will gain access to a broader range of services and a more connected care network linking rural care centers to Mercyhealth’s tertiary care centers, according to the release.
Full financial terms were not disclosed.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
