Lake Forest hospital will become a subsidiary of Northwestern Memorial Healthcare.
Although this purchase is for an undisclosed amount such deals eventually go before
the state and federal antitrust bodies, both requiring financing to be disclosed.
With more than $1.1 billion in cash Northwestern Memorial is one of the wealthiest
hospital systems in the country. Due to this there have been recent talks about
Northwestern Memorial funding Lake Forest hospital for renovation and expansion
but still unclear about getting a replacement facility for Lake Forest's 67 year old
complex.
In 1999, $500 million were financed to open a new Prentice Women's Hospital and
$580 million to replace Northwestern Memorial Hospital. These two hospitals were
financed by Northwestern Memorial Healthcare.
Scouting by Northwestern Memorial in the northern suburbs came up with a purchase
of a 10 acre parcel in Northbrook back in 2007 for $9 million. Clinics have also
opened in other suburbs bringing "services where our patients live and work" said
executives.
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