Little Company of Mary Hospital and Health Care Centers Has Signed a Letter of Intent to Join the Rush System
November 9, 2017
Little Company of Mary Hospital and Health Care Centers (“LCMH”) and the Rush System for Health (“Rush”) have signed a non-binding letter of intent for LCMH to join the Rush system. Under the proposed arrangement, LCMH would continue to serve the southwest Chicago community as a Catholic ministry.
LCMH sought to evaluate partnership opportunities as part of its long-term strategy to ensure advanced healthcare for Chicago’s southwest communities and its future growth, as well as to honor the heritage and mission of the Venerable Mary Potter, founder of the Sisters of Little Company of Mary. Cain Brothers is acting as LCMH’s exclusive financial advisor, engaged to manage a process evaluating strategic options, identify and select an affiliation partner, coordinate due diligence and aid in negotiation of the terms of the transaction.
Little Company of Mary Hospital, a 272-bed Catholic community hospital with more than 2,000 employees, is located in south suburban Evergreen Park, Illinois. LCMH would become the fourth hospital in the Rush system, which currently includes Rush University Medical Center (Chicago, IL), Rush Oak Park Hospital (Oak Park, IL), and Rush Copley Medical Center (Aurora, IL).
As part of the Rush system, LCMH will be better positioned to navigate a changing healthcare landscape while benefiting from the size and scale of the Rush system. The transaction remains subject to further due diligence, regulatory approval, and authorization by the Catholic Church, and is expected to close in 2018.