Business Roundup: MO Hospitals Join Forces
Illinois' Advocate Health Care Acquires Sherman Health
Also last week, Advocate Health Care announced that it had signed a letter of intent to acquire Elgin, IL-based Sherman Health Systems. The deal is expected to be formalized sometime next summer. No financial information was disclosed in the media release announcing the acquisition.
Advocate is the largest health system in Illinois with 10 acute care hospitals, the state's largest integrated children's network, five Level I trauma centers, two Level II trauma centers, the state's largest home healthcare company and more than affiliated 6,000 physicians.
Sherman Health Systems includes the 255-bed Sherman Hospital, three immediate care centers, a skilled nursing and rehabilitation facility; and home health services. The system employs more than 2,200 people and more than 600 physicians on its medical staff.
"We're pleased that we will offer our patients the expertise of one of the top 10 health systems in the country," Sherman Health President/CEO Rick Floyd said in a joint announcement. "Through this partnership, Sherman will be able to grow and expand our services at an accelerated pace to become a distinctive, regional destination for care."
- CMS Sets 2014 Pay Rates for Hospital Outpatient and Physician Services
- FDA hopes hospitals will switch to newly regulated pharmacies
- New G-Codes to Pay Doctors for Broad Array of Non-Face-to-Face Care
- States Rejecting Medicaid Expansion Forgo Billions in Federal Funds
- Why You Should Involve Patients in Nursing Handoffs
- Not-for-Profit Hospitals Find Opportunity Amid Uncertainty
- The Most Polarizing Topics in Healthcare IT
- The 5 Biggest Healthcare Finance Trouble Spots
- Substance Abuse Resurfaces Among Anesthesiologists in Training
- Safety Net Executives Renew Call to Preserve DSH Payments