BJC HealthCare, the area's largest employer, received approval from state health regulators to become the sole owner of two Memorial Hospitals in the Metro East.
The chair of the Illinois Health Facilities and Services Review Board approved the change in ownership, according to spokesman Mike Constantino.
According to the application, the change in ownership was set to occur Jan. 1, pending approval.
In 2015, BJC and Memorial agreed to form Memorial Regional Health Services Inc., which would serve as the new nonprofit parent organization for Memorial Hospital in Belleville and Memorial East in Shiloh. The deal, which gave BJC and Memorial equal representation on the MRHS board, was finalized in the fall of 2015.
BJC said becoming the sole owner would simplify the organization's structure and result in cost savings.
BJC HealthCare operates 15 hospitals in Missouri and Illinois, including the two Memorial Hospitals.
Constantino said BJC also received approval to open its first Siteman Cancer Center in Illinois.
The $38.3 million facility will be located in Shiloh on the new 94-acre campus of Memorial Hospital East and is set to open in 2019.