Presence Health has lined up a buyer for Our Lady of the Resurrection Medical Center on Chicago’s Northwest Side.
Presence Health announced Monday it has signed a letter of intent to sell the hospital to Community First Healthcare of Illinois Inc. It also reached similiar agreements to sell a skilled nursing facility in Des Plaines and a retirement and senior care center in Niles to Skokie-based Glen Health and Home Management. Financial terms weren’t disclosed.
“We are pleased that Community First Healthcare and Glen Health and Home Management will continue to serve the respective acute care and senior care needs of these communities,” said Sandra Bruce, Presence Health President and CEO. “Both organizations have expressed their desire to continue our commitment to serving the needs of these communities and are committed to retaining employees and maintaining existing charity care. As a Catholic health care system, these were all critical factors in our selection process.”
Presence expects to finalize sales agreements this summer and complete the sales by the end of the year.
Presence Health, created by the November 2011 merger of Provena Health and Resurrection Health Care, is the largest Catholic health system based in Illinois.