Kankakee, IL – Prime Healthcare has entered into an asset purchase agreement with Ascension to acquire several Ascension Illinois hospitals, including facilities in Kankakee and Will Counties, as well as associated physician practices, post-acute, and senior living facilities. These hospitals will no longer be affiliated with the Catholic Church.
The massive acquisition, the single largest in the company’s history, includes Ascension Holy Family (Des Plaines), Ascension Mercy (Aurora), Ascension Resurrection (Chicago), Ascension Saint Francis (Evanston), Ascension Saint Joseph (Joliet), Ascension Saint Joseph (Elgin), Ascension Saint Mary (Kankakee), and Ascension Saint Mary and Saint Elizabeth (Chicago). The sale also encompasses post-acute and senior living facilities such as Heritage Village and Heritage Lodge in Kankakee.
According to Prime Healthcare, the company will invest $250 million in facility upgrades, technology investments, and system improvements. Prime Healthcare, recognized for clinical excellence and health equity, aims to preserve the legacy and mission of Ascension Illinois, ensuring quality healthcare access in the greater Chicago area.
Polly Davenport, CEO of Ascension Illinois, expressed confidence in Prime Healthcare’s commitment to continuing Ascension’s mission of serving vulnerable populations.
“Ascension Illinois has been committed to our Mission of serving all persons, with special attention to those who are most vulnerable. Prime Healthcare’s Mission and commitment to clinical excellence and health equity will carry on this legacy, ensuring that the greater Chicago area has sustainable, quality healthcare access long into the future,” said Davenport. “We are confident that Prime will continue its record of excellence and look forward to working in partnership through the sale close process.”
The transaction, expected to close in the first quarter of 2025, follows thorough due diligence and ethical assessments by Ascension. Prime Healthcare operates 44 hospitals and over 300 outpatient locations nationwide. The latest acquisition will expand Prime Healthcare’s presence into the third largest metropolitan area in the United States.
