Naperville, Ill.-based Edward Hospital & Health Services and Elmhurst (Ill.) Memorial Healthcare are one step closer to creating its integrated health system, as the systems signed a definitive merger agreement.
Edward and Elmhurst announced their intent to merge in January. Under the definitive contract, the two systems will merge to create a three-hospital system: 309-bed Edward Hospital, 259-bed Elmhurst Memorial Hospital and Linden Oaks at Edward, a 108-bed psychiatric and behavioral health hospital.
When combined, the new system would have more than $1 billion in revenue, 7,700 employees and 1,680 staff physicians.
The Federal Trade Commission and the Antitrust Division of the Department of Justice have both approved the deal, and now the Illinois Health Facilities and Services Review Board will review the merger over the next few months. The deal is expected to be complete this summer. Financial terms were not disclosed.
Edward and Elmhurst announced their intent to merge in January. Under the definitive contract, the two systems will merge to create a three-hospital system: 309-bed Edward Hospital, 259-bed Elmhurst Memorial Hospital and Linden Oaks at Edward, a 108-bed psychiatric and behavioral health hospital.
When combined, the new system would have more than $1 billion in revenue, 7,700 employees and 1,680 staff physicians.
The Federal Trade Commission and the Antitrust Division of the Department of Justice have both approved the deal, and now the Illinois Health Facilities and Services Review Board will review the merger over the next few months. The deal is expected to be complete this summer. Financial terms were not disclosed.
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