Under the deal, McLaren would make significant investments in St. Luke’s, including building a cancer center, an orthopedic center and upgrading the hospital’s infrastructure.
St. Luke’s Hospital has 312 licensed beds, 175 staffed beds and about $200 million in annual revenue.
The organizations expect to finalize the purchase Oct. 1. The definitive agreement was reached on July 3.
Financial terms of the deal were not disclosed.
More articles on healthcare industry transactions:
NorthShore to acquire Northwest Community Healthcare
St. Luke’s acquires 12th Pennsylvania hospital
Novant closer to $4.5B deal to buy North Carolina hospital
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