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Ingalls Health System to join University of Chicago Medicine

The University of Chicago Medicine and Ingalls Health System, a single-hospital system based in Harvey, Ill., have singed a letter of intent to join forces as a combined integrated health system.

"Ingalls is pursuing a relationship that will combine the resources of the leading integrated health delivery system in Chicago's Southland with one of the nation's leading academic medical institutions," said Eugene Feingold, chair of the Ingalls board of directors.

When the transaction is finalized, Ingalls with join UChicago Medicine's health network.

"Through this partnership, Ingalls will be able to invest in our facilities and enhance our technologies at an accelerated pace, which will help us continue our focus on providing innovative services and a strong regional network of top-rated outpatient services close to home," said Ingalls President and CEO Kurt Johnson.

The deal is expected to close in late spring or early summer of 2016.

More articles on healthcare industry transactions:

10 of the most interesting healthcare transactions of 2015
Allegiance Health to join Henry Ford Health System
Exit activity in private equity healthcare drives busy deal flow: 5 things to know

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