Spring Valley, Ill.-based St. Margaret’s Health is in talks with a larger health system about a potential sale and has hired investment bankers to ensure it gets the most value out of a possible deal, Becker’s reports.
In a March 21 memo to St. Margaret’s employees, president and CEO Tim Muntz said he was “unable to disclose the identity of the larger system” because of a non-disclosure agreement.
St. Margaret’s Peru, IL hospital closed Jan. 28 after citing economic, financial and staffing challenges, as well as a recent cyberattack, which the hospital said prevented it from being able to bill or get paid in a timely way. Read more.
