Loyola Intends to Sell Medical Facilities to Trinity

Loyola University Chicago signed a letter of intent to sell their hospitals and health facilities to Michigan-based Trinity Health, also a Catholic health organization.

The deal would consolidate all 28 of Loyola's facilities, including the Loyola Center for Health in Orland Park and another facility in Homer Glen, with Trinity Health, the fourth-largest Catholic health-care system in the United States. Trinity reported $7.1 billion in unrestricted revenue in 2010 and employs over 48,000 people in nine states, according to Loyola University.

“After a number of conversations with both local and national Catholic health-care systems, LUC determined a partnership with Trinity Health provides the greatest opportunity to invest in and grow the Loyola University Health System while securing the future of the University’s Stritch School of Medicine and Marcella Niehoff School of Nursing,” said Michael J. Garanzini, S.J., president of Loyola University Chicago, in a news release.

Steps still remain before the deal is completed including transition plans, regulation approval and boards of directors for both Trinity and Loyola need to sign off on the sale.