Ascension Health, a nonprofit health care system based in the St. Louis area, is on target for completing its acquisition of the Chicago-based Alexian Brothers Health System by Jan. 1.
The two health systems had announced plans in April 2011 to enter into the "no-cash" deal and finalize the transaction by the end of this year. Illinois regulators approved the aquisition earlier this month, and the contract was signed last week, Ascension Health officials said Wednesday.
As the nation's largest nonprofit and Catholic health system in the nation, Ascension Health generates more than $15 billion a year in revenue and has nearly 400 employees at its corporate offices in Edmundson.
The Alexian Brothers Health System, a nonprofit based in Arlington Heights, Il, has nearly $1 billion a year in revenue. The agreement includes Alexian Brothers' two acute care hospitals and two specialty facilities in Chicago, plus senior care facilities in St. Louis, Milwaukee and Chattanooga, Tenn.
Read more from Jim Doyle, who covers the business of health care for the Post-Dispatch. On Twitter, follow the Business section @postdispatchbiz.
