Trinity signs let­ter of in­tent to ac­quire Mercy in Chicago

Modern Healthcare - - LATE NEWS -

Trinity Health con­tin­ued its quest to ex­pand into Chicago with a let­ter of in­tent to ac­quire Mercy Hos­pi­tal & Med­i­cal Cen­ter. The deal would lend fi­nan­cial sta­bil­ity to Mercy, a fis­cally chal­lenged hos­pi­tal with a 159-year-old legacy. “With health re­form com­ing, we don’t know what that’s go­ing to look like,” Mercy Pres­i­dent and CEO Sis­ter Sheila Lyne said. “We de­cided if there was an in­ter­ested party out there who we could work with, we could do that.” Of­fi­cials hope to com­plete the deal, which in­cludes the 292-bed hos­pi­tal and Mercy’s 11 clin­ics, by the spring. Mercy is Chicago’s first char­tered hos­pi­tal, es­tab­lished in 1852. “There are prob­a­bly quite a few op­por­tu­ni­ties as we see it,” Trinity CEO and Pres­i­dent Joseph Swedish said. “No. 1, it es­tab­lished a re­la­tion­ship with a hos­pi­tal that has a very rich legacy of serv­ing vul­ner­a­ble pop­u­la­tions in Chicago, and that’s very con­sis­tent and aligned with our mis­sion and min­istry,” Swedish said. Novi, Mich.based Trinity ear­lier this sum­mer ac­quired two-hos­pi­tal Loy­ola Univer­sity Health Sys­tem, May­wood, Ill. St. Louis­based As­cen­sion Health has a deal in place to ac­quire three-hos­pi­tal Alex­ian Broth­ers Health Sys­tem in Ar­ling­ton Heights, Ill. Swedish would not say whether Trinity is plan­ning to ac­quire other Chicago hos­pi­tals. “These op­por­tu­ni­ties evolve over time,” he said. “This is a long jour­ney and we are in Chicago in a very deep-rooted way.”

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