Flint, Mich.-based Insight has entered into a non-binding agreement to acquire Mercy Hospital & Medical Center on Chicago’s Near South Side. The deal is pending regulatory approval, but if it goes through, it would keep open a safety net facility that had threatened to close.
Under the deal, terms of which are still being negotiated, a unit of the biomedical technology company, called Insight Chicago, would operate Mercy as a full-service, acute care hospital, Mercy said in a statement today. Insight intends to file an application with the state later today, the statement says.