Firm Plans to Form Illinois Link

Medical Asset Management Inc. said it has agreed to link up with a nonprofit health care system in Illinois to form a physician practice management company.

Terms weren’t disclosed.

Medical Asset Management said it would own 49% of the Illinois joint venture to be formed with the VentureCor unit of ServantCor. The Laguna Hills company would contribute cash and common stock to the venture, and VentureCor would contribute cash.

The physician practice management company would service a seven-hospital system to be formed through the planned merger of ServantCor and two other Illinois-based hospital systems later this year.