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Pipeline Health Buys Weiss Memorial, Two Suburban Hospitals
Dallas-based Tenet Healthcare Corporation has completed the sale of its three remaining Chicago-area acute care hospitals—one on the North Side and two in the suburbs—to Pipeline Health LLC. The sale price wasn’t disclosed. The portfolio represents Los Angeles-based Pipeline’s first Chicago-area acquisition.
Included in the sale were Louis A. Weiss Memorial Hospital in Uptown; Westlake Hospital in Melrose Park; and West Suburban Medical Center in Oak Park. Among them, they total 700 beds.
Pipeline partnered with Dr. Eric Whitaker, a public healthcare advocate and friend of former President Barack Obama, on the acquisition. Whitaker has also joined Pipeline as a vice chair, based in Chicago.
“The rapidly-changing healthcare environment has left many community hospitals struggling financially,” said Whitaker. “Pipeline Health has a track record of success by rethinking how healthcare is delivered at the right time, in the right place, for the right cost.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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