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NorthShore University HealthSystem buys Chicago hospital

Evanston, Ill.-based NorthShore University HealthSystem has finalized its acquisition of the 312-bed Swedish Hospital in Chicago. 

With the acquisition, NorthShore has expanded into a five-hospital system with a presence in Chicago. Its other four hospitals are in the Chicago suburbs of Evanston, Glenview, Highland Park and Skokie.

Under terms of the deal, NorthShore plans to contribute technology, infrastructure and other resources to bolster Swedish Hospital, where it also will install its EMR.

"Through our shared values, commitment to community and combined leadership and strengths, we are confident this extraordinary partnership will help us reach our goal of expanding access to quality patient care and developing best practices in care delivery to better meet the healthcare needs across our communities,” said NorthShore President and CEO J.P. Gallagher.

The deal closed Jan. 1, after receiving federal and state approval last fall.

More articles on transactions and valuation:

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HCA buys majority stake in multistate nursing school
Hospital M&A update: 8 recent deals

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