(Updated with executive comment.) Ascension Health, the nation's largest Catholic health system, has signed a nonbinding letter of intent to acquire three-hospital Alexian Brothers Health System, based in Arlington Heights, Ill. Terms of the agreement, which is expected to close by the year-end, were not released.
The Catholic Alexian Brothers system includes a 141-bed behavioral health hospital in Hoffman Estates, Ill.; the 365-bed Alexian Brothers Medical Center in Elk Grove Village, Ill., and 255-bed St. Alexius Medical Center, also in Hoffman Estates. The system finished 2009 in December that year, the most recent fiscal year for which figures are available, with operating income of $17.7 million on revenue of $930.3 million.