Loyola University Chicago and Trinity Health have signed a letter of intent that could lead to the consolidation of Trinity Health and the Loyola University Health System, a wholly owned subsidiary of the University.
The merger would bring the three entities together to form one of the largest providers of Catholic healthcare, research, and medical education in the US.
Following the letter of intent, leaders representing the three organisations are evaluating the potential for consolidation and completing a number of necessary steps, including filing for regulatory approvals and drafting a definitive agreement.
Loyola University Chicago president Michael Garanzini said that the consolidation would call for substantial investments to advance the future of health sciences, including $150m for a state-of-the-art medical research enterprise in Maywood, US.
The terms of the deal have not been disclosed.