North­west­ern Me­mo­rial plans deal with KishHealth

Modern Healthcare - - REGIONAL NEWS - —Me­lanie Evans

North­west­ern Me­mo­rial Health­Care of Chicago has signed a let­ter of in­tent to af­fil­i­ate with two-hos­pi­tal KishHealth sys­tem in DeKalb, Ill.

Terms will be fi­nal­ized in com­ing months, said North­west­ern Me­mo­rial spokesman Christo­pher King. “It’s too early to tell what this po­ten­tial af­fil­i­a­tion will look like.”

North­west­ern Me­mo­rial’s ac­qui­si­tion of Cadence Health in Septem­ber 2014 paved the way for the lat­est po­ten­tial deal. Cadence, which in­cluded Cen­tral DuPage Hos­pi­tal in Winfield, Ill., and Del­nor Hos­pi­tal in Geneva, Ill., was pre­vi­ously in talks with KishHealth, King said.

North­west­ern Me­mo­rial ended its last fis­cal year be­fore the Cadence deal with an op­er­at­ing sur­plus of $142.1 mil­lion on rev­enue of $2.4 bil­lion. KishHealth ended its fis­cal 2014 with an op­er­at­ing sur­plus of $6.6 mil­lion and rev­enue of $221.7 mil­lion.

A deal would fur­ther ex­pand North­west­ern Me­mo­rial’s mar­ket even far­ther west. KishHealth op­er­ates Kish­wau­kee Hos­pi­tal in DeKalb and Val­ley West Hos­pi­tal in Sand­wich, Ill., both about 60 miles from Chicago.

If a deal is ap­proved, North­west­ern Me­mo­rial Health­care would op­er­ate six hos­pi­tals.

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