Peoria, Ill.-based OSF HealthCare and Rochelle (Ill.) Community Hospital have signed an agreement that would add RCH to OSF HealthCare's network.
Financial terms of the transaction were not disclosed. Under the deal, 25-bed RCH will keep its independence and local governance but will become an OSF HealthCare affiliate. Both groups will collaborate on clinical integration, cost sharing of resources and other initiatives to reduce the cost and improve the quality of care.
No timetable was given for when the transaction would close.
RCH marks the second critical access hospital OSF HealthCare has targeted in the past several months. In October, OSF HealthCare signed a definitive agreement to acquire 25-bed Kewanee (Ill.) Hospital.
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