8 Chicago area hospitals acquired by California-based healthcare system
Prime Healthcare, a California-based national health care system, said it acquired eight Chicago-area hospitals.
The national system also said it will take over multiple senior living and care facilities in Chicago and surrounding suburbs.
Prime Healthcare promised millions of dollars of investments into improving and upgrading the facilities.
A California-based healthcare company officially acquired eight hospitals and multiple senior living and care facilities in the Chicago area.
Prime Healthcare, which already operates hospitals and other facilities in 14 states, announced the acquisition on Saturday.
What we know
The Illinois Health Facilities and Services Review Board approved the acquisition after an extensive review process.
After taking over the Chicago area hospitals and other facilities, Prime Healthcare now operates 51 hospitals, more than 360 outpatient locations and oversees nearly 57,000 employees and affiliated physicians.
The system touted its high rankings for health care and track record of turning around financially struggling hospitals.
Prime Healthcare said it made employment offers to "substantially all associates at the Chicago area facilities it acquired. The company also said it's committed $250 million for facility upgrades, capital improvements and technology and systems upgrades.
Prime Healthcare will now oversee the following hospitals:
Holy Family Medical Center in Des Plaines
Mercy Medical Center in Aurora
Resurrection Medical Center in Chicago
Saint Francis Hospital in Evanston
Saint Joseph Medical Center in Joliet
Saint Joseph Hospital in Elgin
St. Mary's Hospital in Kankakee
Saint May of Nazareth Hospital in Chicago
Prime Healthcare will also take over several home health and senior living facilities:
Fox Knoll Village in Aurora
Villa Franciscan Place in Joliet
Heritage Village and Heritage Lodge in Kankakee
Resurrection Place in Park Ridge
Rainbow Hospice in Chicago
Ascension at Home Illinois in Joliet
Ascension at Home Illinois in Kankakee
The system also said it will preserve charity care programs and the hospitals' affiliation with the Catholic church.
What they're saying
Local officials praised the deal for Prime Healthcare to take over the hospitals and facilities in Chicago and throughout the suburbs.
"This transition marks a significant moment in our community, but I want to make it clear: the quality of care our residents rely on will not be compromised," said Chicago Ald. Daniel La Spata (1st Ward) in a statement. "Prime Healthcare has committed to not only maintaining but enhancing the services at Saint Mary Hospital, ensuring that our neighborhood continues to have access to top-tier medical care."
State Rep. Eva-Dina Delgado (D-Chicago) also praised the acquisition.
"This acquisition represents an opportunity for our community to benefit from Prime Healthcare's commitment to compassionate, high-quality care," said Delgado, in a statement "I am looking forward to seeing the positive impact this transition will bring to our neighborhoods, from preserving critical healthcare services to creating new opportunities for healthcare professionals."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Can Apple's Slim iPhone And Cheaper Macs Reverse The 2025 Stock Slump?
Apple (NASDAQ:AAPL) is gearing up for a significant rebound in the second half of fiscal 2025, driven by the highly anticipated launch of new product cycles, including a 'slim' iPhone, and sustained momentum in its lucrative Services division, even as it contends with rising tariff costs and ongoing regulatory challenges. On Monday, Bank of America Securities analyst Wamsi Mohan reaffirmed a Buy rating on Apple, maintaining a price forecast of $235. As Apple prepares to release its fiscal third-quarter earnings on July 31, investor sentiment, as noted by Mohan, remains somewhat concerns include escalating tariff-related costs, scrutiny from the Department of Justice regarding Google's traffic acquisition cost (TAC) payments, ongoing headwinds for the App Store, and the perceived slow pace of Apple's advancements in artificial intelligence. Nevertheless, the impending earnings call is expected to shift focus towards gross margin trends and the projected recovery trajectory fueled by forthcoming product launches. For fiscal third-quarter 2025, Mohan projects revenue of $90.2 billion and earnings per share (EPS) of $1.45, figures that slightly surpass consensus Street estimates of $89.3 billion and $1.43, respectively. The analyst anticipates a gross margin of approximately 46.1%, aligning with Apple's guidance midpoint, despite the absorption of an estimated $900 million in tariff-related costs. Looking ahead to the fourth quarter, projections indicate revenue of $99.5 billion and EPS of $1.66, largely in line with Street expectations. While gross margin is projected to dip to 45% due to an additional $1 billion in tariff impact, Mohan views this quarter as a trough, with margins expected to improve heading into fiscal 2026. Mohan noted that a key driver of this expected rebound is the highly anticipated 'slim' iPhone, potentially branded as the iPhone 'Air,' which Apple is likely to launch in fall 2025. The analyst said that this model, expected to replace last year's Plus version, will reportedly have a 6.6-inch display, measure just 6mm thick, and carry a price tag $100 higher than the Plus. He noted that the shift in product mix toward higher average selling prices (ASP) is anticipated to drive gross margin expansion and boost replacement rates. Mohan modeled stronger iPhone sales in the September and December quarters on the back of this launch. On the Mac front, Apple is expected to benefit from the March launch of the new MacBook Air featuring the M4 chip, which provides improved performance at a reduced entry price of $999, or $100 lower than its predecessor, the analyst noted. He said this is expected to drive better-than-seasonal Mac revenue in the June and December quarters. Similarly, Mohan said the iPad segment could receive a boost from the expected fall launch of iPad Pro models equipped with the M5 chip. The analyst anticipates revenue growth in iPads driven by higher ASPs and product upgrades. Apple's Services segment continues to show steady growth, Mohan noted. For the third quarter, he expects Services revenue of $27.1 billion, up 2% quarter-over-quarter and 12% year-over-year. Substantial year-over-year gains are projected across the App Store (+12%), Licensing (+18%), Subscriptions (+9%), and Apple Pay (+18%), as per the analyst. For the fourth quarter, Services are projected to rise another 3% sequentially to $28 billion, again marking a 12% annual increase, with Licensing and Apple Pay both expected to grow over 20% year-over-year, Mohan noted. Mohan slightly raised estimates for the full fiscal year 2025. Revenue is now forecast at $409 billion (up from $408 billion), and EPS at $7.15 (up from $7.13). The price forecast remains $235, based on a 29x multiple of fiscal 2026 estimated EPS of $8.20. While Apple faces near-term margin pressure and regulatory noise, Mohan noted upside potential in new product cycles, improving Services momentum, and ASP-driven gross margin recovery, positioning the stock for renewed strength in the back half of the year. AAPL Price Action: Apple stock is trading higher by 0.10% to $214.06 at last check on Monday. Image via Shutterstock Latest Ratings for AAPL Date Firm Action From To Mar 2022 Barclays Maintains Equal-Weight Feb 2022 Tigress Financial Maintains Strong Buy Jan 2022 Credit Suisse Maintains Neutral View More Analyst Ratings for AAPL View the Latest Analyst Ratings Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Can Apple's Slim iPhone And Cheaper Macs Reverse The 2025 Stock Slump? originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
10 minutes ago
- Yahoo
IMV Announces Initial Winners of 2025 ServiceTrak™ Clinical Laboratory Awards, Honored at ADLM Annual Conference
ARLINGTON, Va., July 28, 2025 /PRNewswire/ -- IMV, part of the Science and Medicine Group and the leading market research and business intelligence provider to the laboratory diagnostic industry, is pleased to announce the initial winners of the 2024–2025 IMV ServiceTrak™ Clinical Laboratory Awards. These prestigious awards celebrate industry excellence by recognizing top clinical laboratory manufacturers across multiple instrument categories. Award presentations will take place July 27–31, 2024, during the ADLM Annual Conference in Chicago, IL — a premier event for laboratory professionals. Each year, laboratory professionals from more than 1,150 clinical testing locations, representing 1,900 instruments, rate their satisfaction with manufacturers in three key performance categories: Best Customer Satisfaction: highest likelihood of repeat purchase Best System Performance: highest overall system performance rating Best Service: highest overall OEM service rating The 2024–2025 awards are based on this direct feedback. The initial group of awardees includes top-performing manufacturers in Chemistry, Immunoassay, and Integrated Systems. Additional modalities and category winners will be announced in the coming months. 2024–2025 IMV ServiceTrak™ Clinical Laboratory Award Winners (Initial Round) Chemistry Best Service: Roche Best Customer Satisfaction: Roche Best System Performance: Roche, QuidelOrtho Immunoassay Best Customer Satisfaction: Roche Best Service: bioMérieux, Inc. Best System Performance: bioMérieux, Inc. Integrated Systems Best Customer Satisfaction: Roche Best System Performance: Roche, QuidelOrtho Best Service: Roche, QuidelOrtho About IMV's ServiceTrak™ Program IMV, part of Science and Medicine Group, produces an annual series of proprietary ServiceTrak™ Clinical Laboratory reports derived from extensive phone and online interviews with laboratory testing professionals in U.S. hospitals. These reports present an independent analysis of service trends in laboratory diagnostics and include manufacturer ratings for each instrument type. Rating Scale: Satisfaction is rated on a 10-point scale (10 = "excellent," 1 = "very poor") Highly Satisfied (%HS): Ratings of 9 or 10 Award Criteria: Awards are given to manufacturers with the highest %HS scores in Customer Satisfaction, System Performance, and Service Highly Satisfied (%HS): Responses of 9 or 10 are considered "highly satisfied." IMV ServiceTrak™ has been an industry benchmarking standard for more than 25 years, capturing the customer experience from installation to end-of-life. About IMV IMV Medical Information Division, established in 1977, is a trusted marketing research and consulting firm that specializes in the dynamic fields of diagnostic imaging and clinical diagnostics. Our commitment to in-depth market analysis and comprehensive research services empowers clients to excel in strategic planning, enhance customer satisfaction, drive product development, and launch successful sales initiatives. All of IMV's reports and data solutions are based on primary research by diagnostic imaging experts. As a reliable provider of market intelligence, IMV gives you the comprehensive information you need to stay two steps ahead and make decisions with confidence! For media inquires or to learn more about IMV's ServiceTrak reports, please contact: Media ContactIMV Marketing(703) View original content to download multimedia: SOURCE IMV Medical Information Division Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
11 minutes ago
- Miami Herald
Golden Beach vending-machine mogul sentenced to 2-1/2 years for tax evasion
A wealthy Golden Beach woman who owns the Gilly vending machine business was sentenced on Friday to 2-1/2 years in prison after agreeing to pay $1.9 million in back taxes to the federal government for failing to report a vast sum of income hidden for years in foreign bank accounts. Gilda B. Rosenberg, 60, was ordered to surrender to prison authorities in late October by U.S. District Judge Beth Bloom, who gave the woman a lower sentence than prosecutors sought for her tax-evasion conviction in Miami federal court. Bloom also imposed a $30,000 fine. Under her plea agreement, Rosenberg must also pay a penalty of $5.85 million to the Internal Revenue Service to resolve her civil liability for not filing reports on her foreign bank accounts with the Department of Treasury. In March, Rosenberg pleaded guilty to conspiring to defraud the IRS by concealing undeclared foreign accounts, filing false tax returns and evading taxes over a decade. Rosenberg, whose family owns Miami-based Gilly Vending Inc., also pleaded guilty last year to a separate conspiracy charge involving a scheme to defraud the Army and Air Force Exchange Service in Texas by filing false reports on vending machine sales of snacks and beverages to avoid fully paying commissions. She still faces sentencing in the Texas case on Wednesday, but it would run concurrently with the prison term imposed by Bloom, court records show. Rosenberg, a dual U.S. and Colombian citizen, admitted in the tax-evasion case in Miami that she conspired with two family members to hide more than $90 million in assets and income held in undeclared bank accounts in Andorra, Israel, Panama and Switzerland between 2010 and 2022, according to a factual statement filed with her plea agreement with the Justice Department. Rosenberg and the other relatives knew they had not disclosed their ownership of these foreign financial accounts to the U.S. government and not paid any taxes on the income earned from these assets, as was required by law, the statement says. The family members consolidated their assets at accounts with Credit Suisse AG in Switzerland and the United Kingdom, and then they told Credit Suisse employees that they were seeking to hide their assets from U.S. authorities, according to the statement. Their assets remained at Credit Suisse until 2013, when the bank closed their accounts because they were U.S. citizens. 'Some of the banks, including Credit Suisse AG, knew that the Defendant and her family members were U.S. persons,' Justice Department lawyers Mark Daly, Marissa Brodney and Ana Maria Martinez wrote in a sentencing memo. 'At the time that the family members divided the family's assets in 2017, and in the years following, the family members used, or attempted to use, various schemes and machinations both to covertly transfer assets to [Rosenberg] in the United States and to conceal their ongoing tax evasion and history thereof,' the prosecutors wrote, seeking a three-year, four-month prison sentence. Rosenberg's sentencing memo, filed by defense attorneys Bruce Zimet and Joan Silverstein, was sealed by Judge Bloom at their request. But in her federal case in Texas, the defense lawyers focused on Rosenberg's philanthropy, including leading a service project at the Miami Rescue Mission and donating to God's Kids Learning Center in Miami. 'Given Rosenberg's history of caring and giving to others, her appearance in a federal court for sentencing is not easy to reconcile,' they wrote in a memo filed in federal court in Sherman, Texas. 'She is determined to not let her failings define who she is as a person, and obstruct her ability to make a difference in the life of others.' In the Miami tax-evasion case, court records show that Rosenberg and her relatives moved their assets from Credit Suisse to new accounts at Bank Leumi in Israel, Union Bancaire Privée and PKB Privat Bank SA in Switzerland, and an Andorran bank. Rosenberg was listed as the beneficial owner of accounts at UBP and the Andorran bank, claiming she was a Colombian and not a U.S. citizen. Rosenberg, along with her relatives, did not file Reports of Foreign Bank and Financial Accounts (FBARS) disclosing their offshore financial accounts, as required by law. In addition, they continued to file false tax returns with the Internal Revenue Service that omitted income generated by their offshore assets. In 2017, Rosenberg and her relatives divided the family's assets and signed documents to make it appear that she and a relative gifted the offshore assets to another relative who had renounced his U.S. citizenship. Rosenberg and her relatives then tried to transfer assets to her in the United States, prosecutors said. Rosenberg filed false tax returns from 2009 to 2017 that did not report more than $5.5 million in income she earned from her assets at Union Bancaire Privée, which caused a tax loss to the IRS of $1,927,342, according to prosecutors.
