Loyola University finalizes sale of academic medical center to Trinity Health
Clients Loyola University of Chicago
Jones Day represented Loyola University of Chicago in the sale of its affiliates, Loyola University Health System, Loyola University Medical Center, and Gottlieb Memorial Hospital to Trinity Health, a Novi, Michigan-based Catholic hospital system. The sale marks the end of the school's ownership and operation of the medical center and hospital operations. The affiliation with Trinity allows the hospitals to collectively put in place electronic record-keeping systems, obtain new computer systems and the latest medical technology. The medical center will retain its name and continue to be a teaching hospital for Loyola University students, residents, fellows, and nurses. The transaction included the negotiation of a long-term academic affiliation agreement and joint funding for a new medical research center.