Healthcare Innovation July 26, 2024
As part of the acquisition, Prime committed to investing $250 million in facility upgrades, capital improvements, technology investments and system upgrades
California-based Prime Healthcare has agreed to buy nine Ascension hospitals in Illinois, as well as associated physician practices, post-acute and senior living facilities.
The hospitals and senior living facilities will join Prime Healthcare’s for-profit health system that currently includes 44 hospitals, more than 300 outpatient locations, and nearly 45,000 employees and affiliated physicians.
Headquartered in St. Louis, the Catholic nonprofit Ascension has 140 hospitals in 19 states and Washington D.C. In May, Ascension reported net income of $581 million for the fiscal third quarter ending March 31—a $1.3 billion turnaround from the same period last year.
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