Prime Healthcare has signed a definitive asset purchase agreement with Franciscan Alliance for the acquisition of Franciscan Health Olympia Fields. The strategic expansion will bring the 214-bed Franciscan Health Olympia Fields and the Specialty Physicians of Illinois, LLC into Prime Healthcare’s award-winning national system. When finalized, Olympia Fields will become Prime’s ninth hospital in Illinois and further cement the system’s pledge to Chicagoland after acquiring eight former Ascension facilities back in 2025.
Commitment to Clinical Excellence and Education
As part of the acquisition of Franciscan Health Olympia Fields, Prime Healthcare has pledged a $5 million philanthropic contribution to bolster Franciscan’s medical education programs. This investment mirrors Prime’s broader national initiative to support physician training through its dedicated medical school and residency programs. Prime has also committed to offering employment to substantially all current staff members, ensuring that the legacy of compassionate, values-based care remains uninterrupted for the South Suburbs.
Frank J. McHugh, Interim President and CEO of Franciscan Health Olympia Fields, stated:
“Franciscan Health Olympia Fields has a legacy of service, and we believe Prime Healthcare is uniquely positioned to carry that mission forward. Prime’s proven ability to strengthen hospitals while honoring values-based care gives us hope and confidence in the future of access and quality for the South Suburbs.”
Dr. Sunny Bhatia, President and CMO of Prime Healthcare, emphasized the mission alignment:
“Our agreement with Franciscan Alliance reflects Prime Healthcare’s enduring mission to save, strengthen and invest in community hospitals while honoring Franciscan’s deep commitment to serving the poor and vulnerable. We are grateful for the trust Franciscan has placed in us.”
The acquisition of Franciscan Health Olympia Fields is currently subject to regulatory approval by the Illinois Health Facilities and Services Review Board. Prime Healthcare has historically invested heavily in its Illinois portfolio, including over $104 million in recent facility upgrades, to revitalize community hospitals. By maintaining charity care and community benefit programs, Prime continues to fulfill its core mission of saving hospitals and protecting local jobs while advancing clinical excellence.
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News Source: Businesswire.com
