IL approves Ascension sale of 9 hospitals for $370M

A state board has approved Ascension's plan to sell nine of its Illinois hospitals for more than $370 million to a large California-based health system. The state Health Facilities and Services Review Board voted unanimously Tuesday morning to green-light Ascension's plan to sell the hospitals — more than half of its hospitals in the state — to Prime Healthcare. The hospitals to be sold to Prime include Ascension Holy Family in Des Plaines, Ascension Mercy in Aurora, Ascension Resurrection in Chicago, Ascension St. Francis in Evanston, Ascension St. Joseph in Joliet, Ascension St. Joseph in Elgin, Ascension St. Mary in Kankakee, Ascension St. Mary in Chicago and Ascension St. Elizabeth in Chicago. The deal is expected to close early next year, though it still also needs approval from the Archdiocese of Chicago, because Ascension is a Catholic health system. The Ascension hospitals will be Prime's first ones in Illinois. Prime has 44 hospitals and more than 300 outpatient locations in 14 states.