OSF Healthcare acquired two hospitals from Presence Health
Transaction Announcement
Ponder & Co. (“Ponder”) is pleased to announce that OSF HealthCare (“OSF”) has acquired Presence Covenant Medical Center and Presence United Samaritans Medical Center from Presence Health (“Presence”). This transaction preserves and improves local access to high-quality affordable Catholic healthcare services for the residents of Champaign-Urbana and Danville, Illinois. The two hospitals combined for over $230 million in fiscal year 2017 net revenue. With the acquisition of these two hospitals, OSF is one of the largest Catholic health systems in Illinois, with 12 hospitals in the state and one in Escanaba, Michigan, employing nearly 21,000 systemwide. Also, concurrent with closing, OSF migrated all information technology systems to its EPIC EMR platform and other systems used by OSF.
About OSF Healthcare
OSF HealthCare (“OSF”), an integrated health system owned and operated by The Sisters of the Third Order of St. Francis, Peoria, Illinois, includes 13 acute care facilities with more than 1,800 licensed acute care beds and two colleges of nursing. OSF employs more than 1,200 primary and specialty physicians and advanced practice providers. Net revenue exceeded $2.6 billion in fiscal year 2017.
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