Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

CHE Trinity to Sell 2 Hospitals to Munson Healthcare

CHE Trinity Health, based in Livonia, Mich., has signed a non-binding letter of intent to sell two hospitals to Traverse City, Mich.-based Munson Healthcare.

Financial terms of the deal were not disclosed. Under the agreement, Munson will purchase Mercy Hospital Cadillac (Mich.) and Mercy Hospital Grayling (Mich.). CHE Trinity currently owns the two hospitals, although they have been affiliated with Munson for the past 15 years, according to a news release. Munson has managed both hospitals for 11 years. The deal also involves the sale of the Mercy Manor long-term care facility in Grayling and the affiliated Mercy Home Care and Hospice services in Cadillac, Grayling and Houghton Lake.

"As the next practical step in our partnership, we have signed this agreement to ensure we can continue to meet the healthcare needs of the people of Cadillac and Grayling long into the future," said Ed Ness, president and CEO of Munson Healthcare, in the release. "This purchase will make patient care even more effective and efficient in these communities, and will bring a new level of collaboration and coordination of services across the Munson Healthcare system."

Leaders from the two hospitals, Munson and CHE Trinity will now work together to perform due diligence and seek government and corporate approval. A transition task force led by retiring Mercy Hospital Cadillac CEO John MacLeod will be established to ensure community needs are met during the transition.

More Articles on Hospital Sales:
6 Recent Hospital Transactions and Partnerships
Hackensack, LHP Complete $115M Sale-Leaseback of Mountainside Hospital
Halifax Health Chairman Dismisses Idea of Hospital Sale, Merger 

 

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Content

Featured Webinars

Featured Whitepapers