|Weiss Memorial Hospital, 4646 N. Marine Drive|
News broke this morning that Pipeline Health has agreed in principle to sell West Suburban Medical Center in Oak Park and Uptown's own Weiss Memorial Hospital to Resilience Healthcare and owner Manoj Prasad. The overall deal is worth $92M, and the sale will not be final until it is approved by the Illinois Health Facilities and Service Review Board.
Prasad is a community hospital specialist and his new entity, Resilience, will be his first foray into hospital ownership. He has committed to the hospitals by leaving his current home in Detroit and purchasing a new home near West Suburban. He expects to be a 'hands on' operator and appears very committed to strengthening both hospitals.
Both hospitals will remain exactly as they are now, hospitals, with investments made to hire more staff and improve facilities. As part of the deal, Pipeline has committed to donate an additional $12M of the sale proceeds to the new entity and two hospitals. There are currently 100 positions open at each facility after challenges presented by the COVID-19 pandemic.
This news should come as a relief to people who feared Pipeline Health would close Weiss and leave Uptown without a hospital. Pipeline ended up keeping Weiss open and poured millions into new facilities and operations, including a new orthopedics department and a gender clinic. We are hopeful for the long term future of the hospital given Pipeline's investment, Mr. Prasad's history and his commitment to the hospitals. We wish Mr. Prasad and Resilience much success in their new endeavor.