Officials with Iowa Health System have received the last government approval they needed to move forward with the planned merger with Methodist Health Services Corp., the parent company that runs 298-bed Methodist Medical Center in Peoria, Ill.
Ill. approves Iowa Health-Methodist merger
The Illinois Health Facilities and Services Review Board on Tuesday unanimously (PDF) approved an application for certificate of exemption from taxes for the Des Moines-based health system to operate the Peoria hospital. An e-mailed news release from Iowa Health said receipt of the exemption will allow for the merger to go through Oct. 1.
The two not-for-profit systems disclosed in March that the transaction would not involve any payments or assumption of debt by either side. Methodist would retain its local board and gain three appointments on Iowa Health's board, which would expand to 21 seats. The Federal Trade Commission approved the merger last month.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.