Here are five things to know:
1. Prime signed an asset purchase agreement with St. Louis-based Ascension to acquire the hospitals in July 2024 and secured approval for the purchase from the Illinois Health Facilities and Services Review Board on Dec. 17.
2. Along with the hospitals and ASCs, Prime is acquiring four senior living and post-acute facilities and several physician practices.
3. The eight hospitals being transferred to Prime Healthcare are:
- Ascension Holy Family (Des Plaines)
- Ascension Mercy (Aurora)
- Ascension Resurrection (Chicago)
- Ascension Saint Francis (Evanston)
- Ascension Saint Joseph (Elgin)
- Ascension Saint Joseph (Joliet)
- Ascension Saint Mary (Chicago)
- Ascension Saint Mary (Kankakee)
4. Ascension St. Elizabeth in Chicago, which closed in mid-February, was also included in the transaction. Prime intends to collaborate with the city of Chicago and the community to determine the hospital’s future.
5. As part of the acquisition, Prime has extended employment offers to “substantially all” workers and committed $250 million toward facility upgrades, capital improvements, system enhancements and technology investments.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.