UnityPoint agrees to acquire Pekin Hospital, ProHealth Medical Group
- Details
- Published on Tuesday, 23 August 2016 17:04
- Written by Paul Gordon
UnityPoint Health–Peoria plans to acquire Pekin Hospital and other affiliates of Progressive Health Systems, according to a news release from the two parties.
The release said UnityPoint and Progressive Health Systems have signed a letter of intent to negotiate an agreement to make the latter and its Pekin Hospital and ProHealth Medical Group Inc. affiliates of UnityPoint-Peoria.
If a final agreement is reached, UnityPoint Health-Peoria will own three of the Peoria area’s largest hospitals, including UnityPoint-Methodist and UnityPoint Proctor, both in Peoria.
The release said the agreement was sought by Progressive Health Systems’ board of directors.
“This decision reflects the board’s desire to position Pekin Hospital for long-term success and maintain its status as a vital community health care provider and a major employer in our community,” said Ronald H. Miller, chairman of Progressive Health Systems. “In a challenging health care landscape, becoming part of a strong regional health system like UnityPoint Health-Peoria, which shares our values and invests in community hospitals like ours will help further enhance and ensure the long-term viability of quality health care services for people in Pekin and throughout Tazewell, Woodford and Peoria counties.”
The release said the PHS board’s search centered on finding a partner with a shared recognition of the value of health care being delivered at the local level. Aside from Methodist and Proctor hospitals, UnityPoint-Peoria owns more than 40 clinics in central Illinois and UnityPoint Health is one of the nation’s most integrated health systems with hospitals and affiliated health organizations in Illinois, Iowa and Wisconsin.
“We are excited to partner with Progressive Health Systems and its physicians and have a great deal of respect for the long tradition of care they have in the community,” said Debbie Simon, president and CEO of UnityPoint Health-Peoria.
“An affiliation between Progressive Health Systems and UnityPoint Health-Peoria will be positive for the entire region,” added Jamie Stevenson, chairman of the board for UnityPoint Health-Peoria.
While final terms are to be negotiated, the release said the agreement will bring together the physician networks of both parties and provide greater access to primary and specialty care. Also, it said the agreement will build on Pekin Hospital’s legacy and “preserve a key role for the local boards in the leadership and governance of Pekin Hospital and ProHealth Medical Group Inc.”
The release said it is anticipated the agreement, which is subject to regulatory approvals, will be finalized later this year.
