BOLINGBROOK, Ill. (AP) — An Illinois health planning board has approved the acquisition of Elgin-based Sherman Health Systems by Oak Brook-based Advocate Health Care.
The Illinois Health Facilities and Services Review Board met in Bolingbrook on Tuesday and voted in favor of allowing the systems to join.
Sherman operates the 255-bed Sherman Hospital, one of the last independent hospitals in the Chicago area. Advocate is the largest health system in Illinois. Both are nonprofit organizations.
A joint statement from Sherman and Advocate says a formal closing date for the deal is expected June 1. Sherman will be known as Advocate Sherman Hospital.
Officials of both systems say the partnership will reduce operating and capital costs, allowing for more reinvestment in health care.
Crystal Lake-based Centegra Health System has opposed the merger.