‘No Path Forward’ for Chicago Four-Hospital Merger

The merger of four financially struggling Chicago South Side hospitals is off. The move comes after lawmakers approved revisions to the state’s hospital assessment program, but left out a pool of about $500 million to help facilities across the state transform in an evolving industry. The South Side hospitals were banking on a significant piece of the pot. “After carefully evaluating the eleventh-hour shift in the legislation establishing the Hospital Transformation Fund, we have determined that we see no path forward for our project that would transform health care on the South Side and help address disparities in health for the patients we serve,” the hospitals said in a letter to Illinois Department of Healthcare & Family Services Director Theresa Eagleson. “We have grave concerns about this development, and we believe this action will force hospital closures, cause further service cuts, and push access to care even further out of reach for the families we serve.”

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Source: https://www.modernhealthcare.com/mergers-acquisitions/no-path-forward-chicago-four-hospital-merger

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