Modern Healthcare - - REGIONAL NEWS -

Met­rosouth Med­i­cal Cen­ter, a hos­pi­tal in Chicago’s south sub­urbs that was on the verge of clos­ing three years ago, plans to be ac­quired by for-profit Com­mu­nity Health Sys­tems. The 281-bed hos­pi­tal was spon­sored by the Catholic Fran­cis­can Sis­ters of St. Mary for 103 years, un­til 2008, when SSM Health Care, St. Louis, sold it to pri­vate in­vestors through a hold­ing com­pany called MSMC In­vestors. Nashville-based Com­mu­nity Health Sys­tems said one of its sub­sidiaries would ac­quire the hos­pi­tal in the first quar­ter of 2012, pend­ing reg­u­la­tory ap­provals. Ac­cord­ing to a news re­lease from MSMC In­vestors, CHS will pay about $20 mil­lion for up­grades to equip­ment, in­for­ma­tion sys­tems and in­fra­struc­ture dur­ing the five years af­ter the ac­qui­si­tion. CHS plans to of­fer “sub­stan­tially all ac­tive em­ploy­ees in good stand­ing” their same po­si­tions and salaries and will con­tinue the hos­pi­tal’s char­ity-care poli­cies. For-profit CHS owns eight fa­cil­i­ties in Illi­nois, in­clud­ing two in the Chicago mar­ket. “The ac­qui­si­tion of Met­rosouth Med­i­cal Cen­ter will of­fer a com­pelling op­por­tu­nity to ex­pand our op­er­a­tions in Illi­nois, es­pe­cially in the north­east sec­tion of the state around Chicago,” CHS Pres­i­dent, CEO and Chair­man Wayne Smith said in a news re­lease. Dr. En­rique Beck­mann will re­main as CEO of the hos­pi­tal, ac­cord­ing to MSMC. The trans­ac­tion re­quires ap­proval from the Illi­nois Health Fa­cil­i­ties and Ser­vices Re­view Board, and a hear­ing is ex­pected in Fe­bru­ary, MSMC said. MSMC is com­posed of Har­ri­son, N.y.-based Fal­con In­vestors and Tran­si­tion Health­care Co.

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