St. Louis-based Ascension continues to offload hospitals and ASCs in a bid to reorganize its portfolio and improve fiscal performance.
Here are four notes on Ascension’s recent asset sales:
1. Ascension’s recent sale of four hospitals in southwest Michigan to South Bend, Ind.-based Beacon Health System represents a complete exit from the state.
2. The sale also includes 35 outpatient clinics and an ASC from Ascension Michigan, a division of Ascension Health. Beacon will gain more than 2,700 associates from the acquisition, including 261 providers.
3. In March, Ascension entered an asset purchase agreement with Ontario, Calif.-based Prime Healthcare to sell eight hospitals, two ASCs, four senior living and post-acute facilities, as well as several physician practices, in Illinois.
4. Ascension St. Elizabeth in Chicago, which closed in mid-February, was included in the transaction. Prime said it plans to collaborate with the city and the community to determine the hospital’s future.
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