When visiting a patient at Sherman Hospital this summer, one of the employees revealed that messages had been sent to employees that the hospital was in negotiations with Advocate Health System for a possible merger or other financial cooperation.
As Crain’s Chicago Business reported, Advocate has a healthy balance sheet, while Sherman, having just built a new hospital, was having some problems.
“Moody’s Investors Service said its cash position and ability to make bond payments was ‘exceptionally weak.’” according to Crain’s.
Within the Crain’s article is this sentence, which I suspect that McHenry County readers will find of interest:
“Sherman and McHenry-based Centegra Health System broke off merger talks earlier this year.”
It would seem to me that Centegra’s Huntley hospital would compete with Sherman.