OSF awaits Aug. 15 regulatory hearing on Peru hospital

St. Margaret’s Health-Peru valued at $38 million

An aerial view of St. Margarets Hospital on Monday, Jan. 23, 2023 in Peru.

OSF HealthCare has filed the paperwork needed to fully and formally acquire St. Margaret’s Health-Peru (the former Illinois Valley Community Hospital). Fair market value was listed at $38 million.

The application was submitted Monday to the Illinois Health Facilities and Services Review Board and the application was called “substantially complete” on Wednesday. A copy was released Thursday to Shaw Local News Network.

“Consideration by the State Board has been tentatively scheduled for the Aug. 15, 2023, State Board Meeting,” the application reads.

OSF has the option of seeking expedited approval but, as of Thursday, that hasn’t happened.

“It has been discussed but they (OSF officials) have not formally requested it,” said John P. Kniery, administrator Illinois Health Facilities and Services Review Board.

On May 5, St. Margaret’s-Health CEO Tim Muntz had released a memo to employees confirming a letter of intent was signed with OSF, to purchase the Peru hospital “and other locations across the Illinois Valley.” The Spring Valley hospital, which will close Friday, June 16, was not part of the acquisition.

Any person wanting to submit written comments on this project must submit these comments by July 26 to Health Facilities and Services Review Board at 525 West Jefferson St. (second Floor), Springfield, IL 62761 or by visiting the website at https://hfsrb.illinois.gov/