The new owner of Chicago’s oldest hospital has agreed with the city to operate the hospital as a full-service facility until at least 2029, officials said Tuesday.
The nonprofit Insight Chicago took over Mercy Hospital and Medical Center on Monday after paying $1 for the institution, which was slated to close.
Insight spokeswoman Anel Ruiz said in a statement the organization is committed to stabilizing the hospital’s finances, restoring it as a teaching facility and ensuring the community is represented on its board. Ruiz said Insight will periodically report to the city on its progress.
Mercy was owned by Trinity Health, which announced last summer the hospital was incurring monthly operating losses of $4 million and needed another $100 million to maintain the facility. The hospital filed for Chapter 11 bankruptcy this year with plans to close in May.
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Activists called for city and state officials to block closure of the South Side hospital, particularly in the middle of the COVID-19 pandemic.
Mercy dates to 1852, when a rooming house was converted into a hospital by the Sisters of Mercy. It survived the Chicago Fire of 1871.