Chicago-based Northwestern Memorial HealthCare will take on $68 million in debt when it merges with Northwestern Medical Faculty Foundation, the physician group of Chicago-based Northwestern University Feinberg School of Medicine, according to a Crain's Chicago Business report.
According to the report, Northwestern Memorial HealthCare currently has $820 million in long-term debt.
The two groups signed a letter of intent to integrate in March, and Northwestern Medical Faculty Foundation voted to join Northwestern Memorial in July. The agreement is expected to close Sept. 1.
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