Nashville-based, for-profit Vanguard Health Systems will purchase Holy Cross Hospital in Chicago, allowing the Catholic hospital to retain its religious identity, according to a Holy Cross news release.
Vanguard did not disclose the sum of the purchase, but the sale will give the for-profit system six hospitals in the Chicago area. Holy Cross' sponsors, the Sisters of Saint Casimir, and Vanguard have agreed the hospital will retain its full Catholic identity. The sisters will be seated on the hospital's advisory board and Holy Cross will continue to follow the ethical and religious directives of the Catholic Church.
The hospital considered closure over the past several years, and Holy Cross CEO Wayne Lerner said the sale will save hundreds of jobs.
Vanguard was one of the first healthcare systems in the country to operate a for-profit, Catholic institution when it purchased Saint Vincent Hospital in Worcester, Mass.
Read the Holy Cross news release on the Holy Cross-Vanguard sale.
Read about other hospitals in Chicago:
- Illinois' Loyola University Health Seeks Catholic Partner
- St. Anthony's Hospital in Chicago Wants $250M Expansion, Park and Community Center
- Illinois Hospitals to Receive One-Time Payment for Medicaid Services
Vanguard did not disclose the sum of the purchase, but the sale will give the for-profit system six hospitals in the Chicago area. Holy Cross' sponsors, the Sisters of Saint Casimir, and Vanguard have agreed the hospital will retain its full Catholic identity. The sisters will be seated on the hospital's advisory board and Holy Cross will continue to follow the ethical and religious directives of the Catholic Church.
The hospital considered closure over the past several years, and Holy Cross CEO Wayne Lerner said the sale will save hundreds of jobs.
Vanguard was one of the first healthcare systems in the country to operate a for-profit, Catholic institution when it purchased Saint Vincent Hospital in Worcester, Mass.
Read the Holy Cross news release on the Holy Cross-Vanguard sale.
Read about other hospitals in Chicago:
- Illinois' Loyola University Health Seeks Catholic Partner
- St. Anthony's Hospital in Chicago Wants $250M Expansion, Park and Community Center
- Illinois Hospitals to Receive One-Time Payment for Medicaid Services