RAMCO HEALTHCARE HOLDINGS OBTAINS STATE COUNCIL APPROVAL FOR ACQUISITION OF TWO CHICAGO HOSPITAL PROPERTIES


Ramco acquires the properties of Pipeline Health System, a Los Angeles based health care company. Following the transaction, Ramco will enter into and maintain a long-term, multi-year lease with Resilience for the real estate to ensure that Resilience can retain operational control of the hospitals. Mr. Patlola described to the Illinois Health Facilities and Services Review Board his plan for investing in the various infrastructure to build and market office space available to medical practices in the community.

The total purchase price is $92 million for real estate, which includes all Pipeline assets in the greater Chicago Region. No portion of the purchase price is attributed to Resilience or any other operating entity that is part of the transaction.

During his appearance before the Illinois Health Facilities and Services Review Board, Patlola said, “I strongly believe that health care is a human right” and that he is “excited the opportunity to work with Dr. Prasad to ensure continued access to health care for this community.”

Following approval from state regulatory authorities, Ramco Healthcare Holdings, LLC continues to work with Pipeline Health System to finalize the agreement and close the transaction in the coming weeks, with an expected transition of operational and real estate control that will will follow immediately.

CONTACT: Courtney Avery(773) 230-8819, [email protected]

SOURCE Ramco Healthcare Holdings, LLC

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