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NorthShore, Northwest Community Healthcare Systems Will Merge
NorthShore University Health System and Northwest Community Healthcare said Wednesday they had agreed to merge. Deal terms weren’t disclosed; the Chicago Tribune reported that the two healthcare systems, with hospitals primarily in Chicago’s northwest suburbs, had combined revenues of approximately $2.8 billion for the year that ended Sept. 30, 2019.
“By bringing together two very prominent and community-minded healthcare institutions, we have a tremendous opportunity to transform the practice and delivery of medicine for the future,” said J.P. Gallagher, president and CEO of NorthShore.
The strategic partnership will maintain Northwest’s flagship acute-care hospital in Arlington Heights and suburban ambulatory care and physician offices.
The agreement comes after an 18-month strategic assessment by Northwest’s board of directors. NorthShore and Northwest expect to close the transaction later this year, pending regulatory review and approval. A proposed 2017 merger between NorthShore and Advocate Healthcare ran afoul of antitrust concerns.
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- ◦Sale/Acquisition
