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UChicago Medicine Will Take Controlling Stake in AdventHealth’s Great Lakes Region
The University of Chicago Medicine has agreed to acquire a controlling interest in AdventHealth’s Great Lakes Region — including its four Illinois hospitals in Bolingbrook, Glendale Heights, Hinsdale and La Grange — with AdventHealth retaining the remaining ownership and continuing to manage daily operations of the facilities. UChicago Medicine and AdventHealth will each retain their current system-level governance and administrative structures.
“Joining UChicago Medicine will allow us to further our mission and enhance our ability to deliver high-quality, whole-person care to more people in the communities served in the greater Chicago area,” said Terry Shaw, AdventHealth president/CEO.
The affiliation plans come on the heels of Hyde Park-based UChicago Medicine’s February announcement to build a $633-million freestanding comprehensive cancer facility; the August groundbreaking of a 130,000-square-foot multispecialty ambulatory center in Crown Point, IN; and the summer launch of the South Side Healthy Community Organization, a collaboration between UCM and 12 other healthcare organizations.
- ◦Sale/Acquisition
