Sisters of St. Francis Health Services, Mishawaka, Ind., is at it again.
The Roman Catholic hospital system, which has two deals pending for hospitals in suburban Chicago, last week signed a letter of intent to buy 60-bed Kendrick Memorial Hospital, Mooresville, Ind.
Terms weren't disclosed.
Another deal still outstanding is the system's purchase of 174-bed Olympia Fields (Ill.) Osteopathic Hospital and Medical Center from Nashville-based Columbia/HCA Healthcare Corp. Ingalls Health System, which operates 410-bed Ingalls Hospital in southeast suburban Harvey, Ill., has made a deal to merge with Sisters of St. Francis (Sept. 6, p. 26).
The Olympia Fields sale is expected to close by year-end, and the Ingalls deal is expected to close in the first quarter of next year (Oct. 18, p. 4).
Sisters of St. Francis also recently purchased 98-bed Culver Union Hospital, the only hospital in Crawfordsville, Ind., from Tenet Healthcare Corp., Santa Barbara, Calif.
The deal to buy Kendrick Memorial, a not-for-profit hospital, is expected to be completed by Dec. 31, said David Ruskowski, a spokesman at the system's 409-bed St. Francis Hospital and Health Centers, which has campuses in Beech Grove, Ind., and Indianapolis.
Kendrick Memorial is less than 10 miles from St. Francis, Ruskowski said.
It is unclear whether the system will file for antitrust clearance.
Sisters of St. Francis has 10 hospital campuses in Illinois and Indiana, including a 50% ownership stake in the only two acute-care hospitals in Lafayette, Ind.
The system also owns the only acute-care hospitals in the four northwest Indiana cities of Crown Point, Dyer, Hammond and Michigan City.