Healthcare DIVE July 26, 2024
The Catholic health system will sell nine hospitals and four care sites to Prime Healthcare.
Dive Brief:
- Ascension continues to shrink its footprint in the Midwest, announcing Thursday that it has signed a definitive agreement to sell nine Illinois hospitals and four care sites to Prime Healthcare.
- The deal, which is expected to close in the first quarter of 2025, will be Prime Healthcare’s largest acquisition and its first entry into the Illinois market.
- Prime has committed to investing $250 million into the 13 properties and says “no debt will be put on the hospitals to complete this transaction.” Other financial terms were not disclosed.
Dive Insight:
The deal marks the latest in the string of Midwest...
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