RE Amended Letter of Intent Acquisition
Document Sample


Axel & Associates, Inc.
MANAGEMENT CONSULTANTS
by FAX and FedEX
May 9,2008
Mr. Jeffrey Mark
Executive Secretary
Illinois Health Facilities
Planning Board
525 West Jefferson
Springfield, IL 62761
RE: Amended Letter of Intent Acquisition
of St. Francis Hospital and Health Center,
Blue Island
Dear Mr. Mark:
This amends the Letter of Intent filed January 18,2008, in connection with the
proposed change of ownership of St. Francis Hospital and Health Center, Blue
Island.
Please be advised that some or all of the below-listed entities, as co-applicants, intend
to file an Application for Permit, addressing the intent to acquire, through change of
ownership, St. Francis Hospital and Health Center, located at 12935 South G-regory A
venue in Blue Island:
• MSMC Investors, LLC
• MSMC Realty, LLC
• Harrison Hospital Holdings, LLC
• Harrison Hospital Realty, LLC
• Falcons Associates, LLC
• 3 Man Group, LLC
• Senior Care Holdings, LLC
• Transition Healthcare Company, LLC
• Sovereign Holdings, LLC
• Reis Capital Management, LLC
675 North Court, Suite 210 Phone (847) 776-7101
Palatine, Illinois 60067 Fax (847) 776-7004
EXHIBIT B
• David Reis Sub S Trust
• SSM Health Care Corporation
• SSM Regional Health Services oVb/a St. Francis Hospital and Health
Center
It is anticipated that the hospital's current categories of service and number of
authorized beds, as identified below, will be retained:
• 319 medical/surgical beds
• 33 pediatrics beds
• 28 intensive care beds
• 30 obstetrics/gynecology beds
• open heart surgery
• cardiac catheterization
The maximum associated project cost is anticipated to be approximately $58M,
depending upon the fair market appraised value of the associated real estate and
equipment, with the vast majority of the project costs, pursuant to the IHFPB
definition of such, being the fair market value of that real estate and equipment.
It is anticipated that the required Application for Permit will be filed within
approximately twenty (20) days after the earliest date on which the IHFPB
determines the Application can properly be submitted.
Sincerely,
Jacob M. Axel
LS
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