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University of Chicago

Ingalls Memorial signs letter of intent to combine with U of C Medicine

Ingalls Health System, which runs a small community hospital in the southwest suburb of Harvey, has signed a letter of intent to combine with University of Chicago Medicine's sprawling network of facilities and physicians.

In an announcement Thursday, U of C Medicine and Ingalls said they will engage in exclusive negotiations and begin planning the terms of their potential transaction. For Ingalls, the letter of intent is a culmination of seven months of searching for a partner.

The move is the latest by hospitals around Chicago to bulk up through mergers or affiliations to see more patients, reduce costs, provide more services and have more negotiating power with insurance...