Vanguard Health Systems of Nashville, Tenn., plans to purchase Holy Cross Hospital of Chicago by June.
After joining Vanguard, the hospital no longer will operate as a not-for-profit facility, but it will continue to follow the Ethical and Religious Directives for Catholic Health Care Services and will retain its name.
Holy Cross' sponsors, the Sisters of Saint Casimir, will have a presence on the hospital's advisory board; and they will join Cardinal Francis George of the Archdiocese of Chicago in overseeing matters that concern the facility's Catholic identity.
Sr. Immacula Wendt, SSC, general superior of the Sisters of Saint Casimir, said that Vanguard will help to stabilize Holy Cross' finances and will make investments to update its infrastructure. The hospital has experienced financial strain, particularly in recent years, and its leaders had feared prior to the deal with Vanguard that it might be necessary to close it.
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