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McLaren Health Care to buy St. Luke's Hospital in Ohio

McLaren Health Care, a 14 hospital system in Grand Blanc, Mich., has signed a letter of intent to acquire St. Luke's Hospital in Maumee, Ohio. 

Under the deal, McLaren would make significant investments in St. Luke's, including building a cancer center and orthopedic center, and upgrading the hospital's infrastructure.

The organizations expect to complete the deal, giving McLaren its first hospital outside of Michigan, by the middle of next year.

The deal still needs approval from state regulators and the boards of McLaren and St. Luke's.

Financial terms of the deal were not disclosed. 

"St. Luke's Hospital is a valuable healthcare provider in this region. We look forward to growing and enhancing the hospital’s services and programs to continue their long-standing tradition of providing superior quality health care close to home," said Philip Incarnati, president and CEO of McLaren Health Care.

More articles on healthcare industry transactions:

Adventist Health's 30-year deal to operate 25-bed California hospital advances
State was U of Louisville's partner of last resort on KentuckyOne Health deal
Baylor Scott & White to transfer operations of Texas community hospital

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