PEORIA, Ill. – OSF Healthcare has entered into negotiations with Katherine Shaw Bethea Hospital in Dixon, with a merger between the two entities anticipated.
OSF announced Friday that a term sheet has been signed, and the two organizations will finalize agreements and seek regulatory approvals over the next several months.
The agreement also includes a $40 million plan to support renovations at KSB, along with improved access to local care.
A local community advisory council will be established when the merger is complete that will provide advice and counsel to hospital management and OSF.
“As health care continues to evolve, we are responsible for ensuring that we are planning for the future. The challenge of being a standalone, rural hospital in today’s financial environment, was an important element in our board’s consideration,” said David Schreiner, PhD, President/Chief Executive Officer, KSB Hospital. “OSF HealthCare shares our deep commitment to caring for the health of rural communities and has demonstrated innovative ways to transform health care for the benefit of all people they serve.”
KSB was established in the late-1800’s, and has around 900 employees and 91 practitioners, providing services in Lee and Ogle Counties.
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