Long rumored, Arlington Heights-based Northwest Community Healthcare on Wednesday announced it has inked a merger agreement that will end its independent status after 61 years.
One of the few remaining independents in the suburbs, Northwest Community is merging with Evanston-based NorthShore University HealthSystem, which operates Evanston, Glenbrook, Highland Park, Skokie and Swedish hospitals, having acquired the last earlier this year.
Each hospital system’s board of directors is set to formalize approval of the deal this week before it goes before state and federal regulators for their review and approval. Officials hope to close on the transaction by the end of the year. Terms were not disclosed.
The deal follows an 18-month strategic assessment by Northwest Community’s board and years of informal discussions between CEO Steve Scogna and NorthShore President and CEO J.P. Gallagher.
Merger talks have swirled around the Arlington Heights hospital for years, amid a local and national trend and other alliances aimed at cutting costs, increasing buying power and expanding the physician network.
Scogna said the merger doesn’t have anything to do with Northwest Community’s finances or the recent effect of COVID-19 on the bottom line.
Read more at the Daily Herald.
