Meanwhile, several major companies are changing the way they’re doing business moving forward into the new year via mergers and acquisitions.
Edward Hospital merged with Elmhurst Memorial Hospital to become one of the largest integrated healthcare systems in Illinois.
The newly formed system has estimated combined revenue of roughly $1 billion, 7,700 employees, including 1,700 physicians, and 50 outpatient locations across the Chicago suburbs.
Pam Davis, President and CEO of Edward Hospital for the past 25 years, is now the new healthcare system’s CEO.
Meanwhile OfficeMax, which has been headquartered here in town, is merging with Office Depot to become Office Depot, Inc, moving the new corporate headquarters to Baco Raton, Florida as a result.
The news came shortly after Illinois lawmakers failed to pass a proposed $53 million tax incentive over 15 years.
About 1,600 OfficeMax employees at the Naperville headquarters are still waiting to hear if they’ll be asked to relocate or be let go.
In the meantime the existing OfficeMax and Office Depot stores in the area are slated to stay open.
California based private equity firm, Marlin Equity has purchased Naperville-based Tellabs for $891 million.
Tellabs, a company that helps telecommunications carriers manage traffic on their networks, hasn’t posted a profit in three years and was forced to cut thousands of jobs.
The business announced the deal with Marlin back in October and since then has revealed it does not plan on any more immediate job cuts and its headquarters will stay put in Naperville.
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