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Loyola Medicine to Acquire MacNeal Community Hospital from Tenet Healthcare
Thursday 12 October 2017

12 October 2017 - Chicago, US-based medical care system Loyola Medicine has agreed to acquire 368-bed community hospital MacNeal Hospital, located in suburban Chicago, from Texas, US-based healthcare services company Tenet Healthcare Corp. (NYSE: THC) to expand the Chicago-area health system through suburban hospital acquisitions, the company said.

Loyola Medicine is an affiliate of Michigan, US-based Catholic health system Trinity Health.

The Chicago Tribune reported Loyola is expanding its Chicago-area health system through suburban hospital acquisitions as US hospitals seek to consolidate in order to increase power and improve finances.

As part of the transaction, Loyola will acquire MacLean's affiliated operations, which include the Chicago Health System, a Tenet-owned physician practices association of nearly 1,000 physicians, and the associated CHS accountable care organisation.

Terms of the transaction were not disclosed. The transaction is expected to be completed in the first quarter of 2018, subject to regulatory approvals and customary closing conditions.

Tenet Healthcare Corp. is a diversified, for-profit healthcare services company with nearly 130,000 employees.

Through its subsidiaries, partnerships and joint ventures, including United Surgical Partners International, the company operates 77 general acute care hospitals, 20 short-stay surgical hospitals and over 460 outpatient centres in the United States, as well as nine facilities in the United Kingdom.
Details
Date Published: 12/10/2017
Target: MacNeal Hospital
Country: USA
Sector: Healthcare
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: Tenet Healthcare
Buyer: Loyola Medicine
Comment:
Terms of the deal were not disclosed

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