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Tenet sells hospital to Loyola with eye on exiting Chicago market

Dallas-based Tenet Healthcare has reached a definitive agreement to sell MacNeal Hospital, a 368-bed community hospital in Berwyn, Ill., and its affiliated operations to Chicago-based Loyola Medicine.

Under the deal, Loyola Medicine will purchase MacNeal Hospital, local Tenet-owned physician practices and an independent practice association of nearly 1,000 physicians and its associated ACO.

"Bringing MacNeal into the Loyola system allows us to expand our delivery system, add more providers and deliver exceptional care to a greater number of residents close to their homes," said Larry M. Goldberg, president and CEO of Loyola University Health System.

The transaction, which is subject to regulatory approval, is expected to close in the first quarter of 2018.

The deal could mark the beginning of Tenet's exit from the Chicago-area market. The 77-hospital network is in discussions with potential buyers for its three other hospitals in Chicago and the surrounding area: Weiss Memorial Hospital in Chicago, Westlake Hospital in Melrose Park, Ill., and West Suburban Medical Center in Oak Park, Ill., according to the Chicago Tribune.

More articles on healthcare industry transactions:
LifePoint divests Georgia hospital to Piedmont Healthcare
Mon Health completes acquisition of Stonewall Jackson Memorial Hospital
Quorum Health sells 2 Pennsylvania hospitals



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