The deal between Mercy Health System in Chicago and Novi, Mich.-based Trinity Health is official.
“This affiliation will better enable Mercy Hospital to continue building on its strong 160-year history of service to the Chicago community despite all the changes and challenges facing healthcare,'' Sister Sheila Lyne, president and CEO of Mercy, said in a news release. “Our belief is that this affiliation will enable Mercy to continue to live out its vision of providing quality care to our community here in Chicago.”
Trinity is slated to spend $140 million to $150 million over five years for capital improvements for Mercy, according to documents filed with the Illinois Health Facilities and Services Review Board. The transaction includes the 292-bed safety-net hospital, Mercy Hospital & Medical Center, and 11 clinics. The deal became finalized on Sunday. The parties signed a letter of intent in November.