Loyola Medicine acquires MacNeal Hospital, Tenet leaves Chicago
Tenet Healthcare has sold Chicago located MacNeal hospital to Loyola Medicine for an undisclosed sum, in addition to all affiliated operations which include local Tenet-owned physician practices; the Chicago Health System (“CHS”), an independent practice association of nearly 1,000 physicians; and the associated CHS accountable care organisation.
The acquisition will see MacNeal hospital operate under Loyola, which is sat under the Trinity Health Umbrella.
"Bringing MacNeal into the Loyola system allows us to expand our delivery system, add more providers and deliver exceptional care to a greater number of residents close to their homes," Larry Goldberg, Loyola President and CEO has said.
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The move will also see Tenet exit what has become a competitive market in Chicago upon completion of the sale in 2018. The company is also looking to also sell its three other Chicago based hospitals through its extensive restructure process, as well eight US hospitals and a number of UK based hospitals in order to streamline its operations.
With growing financial pressures hitting every area of the healthcare industry, Tenet is looking at ways to boost productivity and accumulate further revenue, in order to attract further growth and ensure the delivery of co-ordinated, quality care across the board.