Ontario, Calif.-based Prime Health Care entered into an asset purchase agreement Jan. 16 with Mishawaka, Ind.-based Franciscan Alliance to acquire its Franciscan Health Olympia Fields (Ill.), making it the system’s ninth hospital in Illinois.
Under the proposed transaction, Franciscan Health Olympia Fields and Specialty Physicians of Illinois would transition to Prime. The health system also committed $5 million in philanthropic contributions to support Franciscan’s medical education expansion, according to a Jan. 16 news release shared with Becker’s.
Prime will offer jobs to “substantially all employees” at the 214-bed facility.
In March 2025, the health system acquired eight facilities from St. Louis-based Ascension. A ninth hospital, Ascension St. Elizabeth in Chicago, was included in that acquisition; however, the facility closed in mid-February 2025.
“Through strategic capital investment, clinical excellence, collaborative partnerships and sustained community outreach, Prime is delivering on its promise to revitalize hospitals, strengthen workforces and enhance care for those that depend on them,” the release said. “Prime’s Illinois portfolio now serves as a model for mission-driven turnarounds and sustainability that strengthens communities.”
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.