The for-profit hospital operator, which is owned by private-equity firm The Blackstone Group, attributed the losses to the acquisition of two struggling Chicago-area hospitals from Resurrection Health Care.
Vanguard’s CFO said the loss will not change its decision to acquire DMC, which it will acquire through existing cash and credit, according to the report.
Read the Detroit News report on Vanguard Health Systems.
Read more coverage on Vanguard Health Systems:
– Vanguard to Acquire Arizona Heart Hospital
– Vanguard Completes Acquisition of Two Resurrection Hospitals
– Vanguard Makes $500M Guarantee to Ensure Upgrade of Detroit Medical Center
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