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Gus Iversen, Editor in Chief | July 26, 2024
Prime Healthcare has entered into an agreement to acquire nine hospitals from Ascension Illinois, in addition to four physician practices and senior living facilities, marking its largest acquisition to date.
Prime Healthcare, based in Ontario, California, is poised to complete the acquisition by Q1 2025, pending regulatory approval, including a $250 million investment in facility upgrades and technology.
The hospitals involved are Ascension Holy Family (Des Plaines), Ascension Mercy (Aurora), Ascension Resurrection (Chicago), Ascension Saint Francis (Evanston), Ascension Saint Joseph (Joliet and Elgin), Ascension Saint Mary (Kankakee), and Ascension Saint Mary and Saint Elizabeth (Chicago). Senior living facilities include Fox Knoll Village (Aurora), Villa Franciscan Place (Joliet), Heritage Village and Heritage Lodge (Kankakee), and Resurrection Place (Park Ridge).
Prime plans to offer employment to nearly all current staff and continue community benefit programs.
Unlike Ascension, which is a not-for-profit Catholic health system, Prime includes the for-profit Prime Healthcare Services and an affiliated charity called the Prime Healthcare Foundation, under which 14 of Prime’s hospitals operate.
Under the deal, eight of the Ascension hospitals would become for-profit, while St. Francis in Evanston would retain its not-for-profit status as part of the Prime Healthcare Foundation, said Prime spokesman Elizabeth Nikels
told the Chicago Tribune.
Prime Healthcare operates 44 hospitals and over 300 outpatient locations, employing nearly 45,000 people. Known for its quality care, Prime has been named a Top 10 Health System by Truven Health Analytics and received numerous awards for patient safety. This acquisition will expand Prime’s presence into the Chicago area, furthering its reach in major metropolitan regions. Prime already operates facilities in the New York/New Jersey area and Los Angeles.
Dr. Sunny Bhatia, president and chief medical officer of Prime Healthcare, highlighted the shared mission of patient-centered care. “Our agreement reflects our mission of saving, improving, and investing in community hospitals,” he said in a statement.
