Two hospitals in Illinois received approval from the state to combine and consolidate operations, according to The Times.
Under the agreement, St. Margaret’s Health in Spring Valley and Illinois Valley Community Hospital in Peru will form a regional care network.
The new organization will be owned by Fargo, N.D.-based SMP Health System and be governed by a board of directors comprising representatives from SMP, St. Margaret’s and Illinois Valley.
The deal is expected to close Dec. 31.
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Hospital M&A update: 5 recent deals
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