July 29, 2024- Prime Healthcare has entered into an asset purchase agreement with Ascension for the sale of Ascension Illinois hospitals, associated physician practices, post-acute and senior living facilities. Upon completion, this acquisition will be the largest in the history of Prime Healthcare and the Prime Healthcare Foundation, a 501c3 public charity.
Today, Prime Healthcare and Ascension Illinois highlighted their continued efforts to preserve the legacy and mission of Ascension Illinois. Prime Healthcare is an award-winning national health system recognized for clinical excellence, health equity and social responsibility. Prime has earned national recognition for its unique ability to transform financially struggling hospitals and has preserved quality healthcare in 14 states for more than 600 communities across the nation, “saving hospitals, saving jobs and saving lives.” Since 2010, Prime has provided more than $12 billion in community benefit and charity care.
Ascension selected Prime Healthcare to steward its hospitals and care sites into the future after thorough due diligence, a values compatibility assessment, and an ethics discernment process.
The asset purchase agreement includes the following Ascension Illinois hospitals: Ascension Holy Family (Des Plaines), Ascension Mercy (Aurora), Ascension Resurrection (Chicago), Ascension Saint Francis (Evanston), Ascension Saint Joseph (Joliet), Ascension Saint Joseph (Elgin), Ascension Saint Mary (Kankakee) and Ascension Saint Mary and Saint Elizabeth (Chicago). The transaction also includes the following post-acute and senior living facilities currently operated by Ascension Living: Fox Knoll Village (Aurora), Villa Franciscan Place (Joliet), Heritage Village and Heritage Lodge (Kankakee) and Resurrection Place (Park Ridge).