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Presence Health, Physicians Immediate Care form joint venture

Two Chicago-based organizations, Presence Health and Physicians Immediate Care, have announced the formation of a new joint venture, which will operate urgent care and occupational medicine facilities in the Chicago area.

The venture will create more access points for patients, provide needed care in lower-cost settings than emergency departments and improve care coordination among providers.

The venture will manage 10 immediate care/occupational medicine clinics, which will be open seven days a week. The organizations will also work together to create additional sites for clinics.

As part of the agreement, which is exclusive within the designated Chicago region, Physicians Immediate Care will handle daily management of the clinics.

More articles on hospital transaction and valuation issues:
Crittenton Hospital inks deal to join Ascension Michigan: 5 things to know
31 hospital transactions and partnerships in August
University Hospitals inks merger deal with Samaritan Regional Health System

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