Hospital Sisters Health System, Springfield, Ill., signed a letter of intent to acquire St. Anthonys Health System, Alton, Ill., which includes a two-campus 191-bed hospital. Hospital Sisters, a 13-hospital Catholic system, and St. Anthony's are expected to sign a definitive agreement in July and hope to finalize the deal in the fall, said Stephanie McCutcheon, president and chief executive officer of Hospital Sisters.
The deal would expand Hospital Sisters market in southwestern Illinois, where it owns 274-bed St. Elizabeths Hospital, Belleville; 60-bed St. Josephs Hospital, Breese; and 25-bed St. Josephs Hospital, Highland, McCutcheon said, and increase its physician employment. St. Anthonys includes the multispecialty physician group ComPAS Network.
Mark Weber, president and CEO of the St. Anthony system, said the deal will give the hospital access to capital and the Hospital Sisters' economy of scale. St. Anthonys Health Center, located in a growing community, is expected to begin a $69 million expansion later this year. -- by Melanie Evans