Van­guard agrees to ac­quire Holy Cross Hos­pi­tal in Chicago

Modern Healthcare - - Late News -

Van­guard Health Sys­tems, Nashville, has agreed to ac­quire a fi­nan­cially ail­ing Ro­man Catholic hos­pi­tal in Chicago, just a few months af­ter it acquired two hos­pi­tals in Chicago’s near west sub­urbs from a Catholic sys­tem. Terms were not dis­closed. Van­guard and 160-bed Holy Cross Hos­pi­tal said in a news re­lease the de­fin­i­tive agree­ment in­cludes pro­vi­sions that would re­tain the hos­pi­tal’s name and Ro­man Catholic iden­tity, ac­cord­ing to the re­lease. The hos­pi­tal would con­tinue to fol­low Catholic eth­i­cal and re­li­gious di­rec­tives and pro­vide ac­tive pas­toral care. The hos­pi­tal’s spon­sor, the Sis­ters of St. Casimir, would have seats on the hos­pi­tal’s ad­vi­sory board. The deal re­quires reg­u­la­tory ap­provals, in­clud­ing from state cer­tifi­cate-of-need reg­u­la­tors. Car­di­nal Francis Ge­orge, arch­bishop of Chicago, has al­ready granted per­mis­sion, ac­cord­ing to the re­lease. In Au­gust, Van­guard com­pleted its ac­qui­si­tion of two hos­pi­tals from Res­ur­rec­tion Health Care, Chicago, for $45.4 mil­lion, ac­cord­ing to a se­cu­ri­ties fil­ing.

Holy Cross Hos­pi­tal will be­come part of Van­guard in the deal.

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