Peoria, Ill.-based OSF HealthCare has signed an exclusive letter of intent to purchase the real estate, medical equipment and other assets of the closed Galesburg (Ill.) Cottage Hospital.
OSF will not provide inpatient services at the location, the system said in a Feb. 28 statement shared with Becker's.
Cottage Hospital closed Jan. 8 because of CMS terminating the facility's Medicare contract.
OSF said it expects to close on the sale this spring.
"OSF recognizes that change is never easy but anticipates this will best serve the healthcare needs for Galesburg and surrounding areas going forward," OSF said in the statement.