St. Louis-based Ascension Health has signed a letter of intent to acquire Arlington Heights, Ill.-based Alexian Brothers Health System, a two-hospital system, according to an Ascension news release.
Alexian Health Brothers Health is a Catholic system that operates Alexian Brothers Medical Center in Elk Grove Village, Ill., and St. Alexis Medical Center in Hoffman Estates, Ill. Ascension is the largest Catholic hospital operator in the country, overseeing hospital and health facilities in 20 states.
Terms of the deal were not disclosed.
“Alexian Brothers Health System’s strong operating performance in recent years was an important aspect of the process. Because of that we were able to approach a potential partnership from a position of financial strength and market leadership,” said Mark A. Frey, executive vice president of Alexian Brothers Health System, in the release.
Read the release on the transaction between Ascension Health and Alexian Brothers Health System.
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Alexian Health Brothers Health is a Catholic system that operates Alexian Brothers Medical Center in Elk Grove Village, Ill., and St. Alexis Medical Center in Hoffman Estates, Ill. Ascension is the largest Catholic hospital operator in the country, overseeing hospital and health facilities in 20 states.
Terms of the deal were not disclosed.
“Alexian Brothers Health System’s strong operating performance in recent years was an important aspect of the process. Because of that we were able to approach a potential partnership from a position of financial strength and market leadership,” said Mark A. Frey, executive vice president of Alexian Brothers Health System, in the release.
Read the release on the transaction between Ascension Health and Alexian Brothers Health System.
Related Articles on Hospital M&A:
New Jersey's Warren Healthcare to Join St. Luke's Hospital and Health Network
Virginia's Sentara Healthcare and Rockingham Memorial Finalize Merger
Kentucky's Appalachian Regional to Acquire Mary Breckinridge Hospital