State Board Approves One of the Final Pieces in Carle Merger Puzzle
The Illinois Department of Insurance is the only agency that stands in front of the merger of Carle Foundation Hospital and Cale Clinic Association.
The deal would have the not-for-profit Carle Foundation purchase the for-profit clinic for $250 million. The clinic's Health Alliance Medical Plans would be the only business to remain for-profit.
Yesterday without opposition, the state Health Facilities and Services Review Board approved a certificate of need clearing the way for the purchase. Carle says the merger will make the organization a stronger health care provider and give the clinic's doctors a stable place of employment. Federal regulators have not raised any questions about the deal - if the state insurance department approves, Carle says the merger could be completed in April.