A struggling Chicago hospital unable to meet capital demands has closed its doors. All but a few dozen patients had been transferred out of 158-bed Lincoln Park Hospital by the end of Wednesday and the Illinois Health Facilities Planning Board was notified the hospital intended to close permanently, said Joseph Poulos a public relations consultant speaking on behalf of its for-profit parent, Merit Health Systems.
Poulos said Lincoln Park Hospitals bottom line suffered from a high rate of uncompensated care, although it is located in an affluent neighborhood, and leaders were unable to secure financing for required upgrades of the building. This was obviously a last resort, he said. Merit also owns 164-bed Nix Health Care System in San Antonio, and 233-bed Mountainside Hospital in Montclair, N.J.
Lincoln Park Hospital started out in 1884 as the German Hospital and was called Grant Hospital from 1918 until Merit bought it for $25 million in 2002 in a court-ordered auction. It lost $15 million on $163.3 million in patient revenue for the year ended December 31, according to the American Hospital Directory. -- by Gregg Blesch