OSF HealthCare, based in Peoria, Ill., has signed a definitive agreement to acquire Kewanee (Ill.) Hospital.
Kewanee Hospital, a 25-bed critical access hospital located roughly 50 miles north of Peoria, will become the ninth hospital within OSF HealthCare. The deal still must receive approval from the Illinois Health Facilities & Services Review Board, and OSF HealthCare officials said they expect the transaction to close in spring 2014.
Under the deal, all Kewanee Hospital employees would become OSF HealthCare employees. In addition, since OSF HealthCare is a Catholic-based health system, Kewanee Hospital medical staff members will have to abide by the Ethical and Religious Directives for Catholic Health Care Services.
OSF HealthCare and Kewanee Hospital signed a letter of intent to affiliate last November. Financial terms of the definitive agreement were not disclosed.
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