The merger of Alexian Brothers’ five hospitals and related health care facilities with St. Louis-based Ascension was originally announced in April. The transaction was approved on Dec. 6 by the Illinois Health Facilities and Services Review Board, and a merger agreement was signed last week, Alexian announced on Wednesday. The merger takes effect on Jan. 1.
“Our relationship with Ascension Health will allow us to continue our ability to provide quality health care and housing services across Chicago and at our other ministry locations in Missouri, Tennessee and Wisconsin,” Alexian CEO Mark Frey said in a news release.
Ascension operates about 80 hospitals in 20 states and the District of Columbia.
Alexian Brothers reported $953 million in revenue for the 2010 fiscal year and $708 million for the first nine months of the current year ended Sept. 30, according to financial statements.
The major facility of the Alexian Brothers system is the 387-bed Alexian Brothers Medical Center in Elk Grove Village. The 145-year-old system also includes St. Alexius Medical Center in Hoffman Estates, Alexian Rehabilitation Hospital in Elk Grove Village, Alexian Brothers Behavioral Health Hospital in Hoffman Estates and Alexian Brothers Center for Mental Health in Arlington Heights.
The Alexian Brothers hospitals face competition from 496-bed Northwest Community Hospital, which is also based in Arlington Heights, and Elgin-based Sherman Hospital, which opened a 255-bed hospital two years ago.
