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Chicago & Midwest  + Greater Chicagoland  + Healthcare  |  January 10, 2023
The University of Chicago Medicine and AdventHealth have closed on a joint venture called UChicago Medicine AdventHealth, with UChicago Medicine acquiring a controlling interest in AdventHealth’s Great Lakes Region
Paul Bubny
By: Paul Bubny

UChicago Medicine Assumes Control of Four Suburban Hospitals

The University of Chicago Medicine and AdventHealth have closed on a transaction to form a joint venture called UChicago Medicine AdventHealth, with UChicago Medicine acquiring a controlling interest in AdventHealth’s Great Lakes Region.  

The region includes AdventHealth’s four Illinois hospitals in Bolingbrook, Glendale Heights, Hinsdale and La Grange, along with a network of nearly 50 physicians’ offices and outpatient locations. Financial terms of the JV were not disclosed. 

“With the launch of this affiliation, we are blessed to continue to build on the rich legacy of whole-person care and further our mission and commitment to making these communities healthier for years to come,” said Terry Shaw, president/CEO of AdventHealth. 

Under the new JV AdventHealth retains the remaining ownership and will continue to manage daily operations of all facilities. Both UChicago Medicine and AdventHealth will maintain their separate system-level governance and administrative structures. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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