Peoria, Ill.-based OSF HealthCare signed a letter of intent with Chicago-based Presence Health to take ownership of two Illinois hospitals — Presence Covenant Medical Center in Urbana and Presence United Samaritans Medical Center in Danville.
OSF HealthCare and Presence are finalizing the agreement and will seek necessary regulatory approvals.
The health systems anticipate the transaction will close in the first quarter of 2018. Afterward, Presence will become a 10-hospital system.
Financial terms of the agreement were not disclosed.