Chicago-based Presence Health is selling Our Lady of the Resurrection Medical Center, according to a Crain's Chicago Business report.
Presence determined finding a buyer is the best way to maintain operations at the 269-bed Chicago hospital, which has been struggling financially, according to the report. The hospital reported a $12.5 million operating loss in 2012 and a $9.8 million loss in 2013.
Last year, Presence considered shutting down Our Lady of the Resurrection because of the facility's financial issues. It was also previously reported that Presence Health CEO Sandra Bruce considered a plan to convert the hospital into an outpatient center while keeping its emergency room open.
Regarding the hospital's sale, Presence has said it would prefer to have it taken over by a nonprofit Catholic health system that will maintain Our Lady as a general acute-care facility and keep the hospital's 900 employees, according to the report.
Presence plans to issue an official request for proposals next week and aims to close the transaction by the end of the year.
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