Officials from both institutions expect to complete the letter of intent within the next few weeks, and finalize the transition of HMC to a wholly-owned subsidiary of McLaren Health Care within three to six months.
HMC officials said the hospital sought to pursue an affiliation with another health facility in an effort to expand services throughout the community and improve access to primary care physicians and specialists.
More articles on transactions and valuations:
Prospect, Brown University discuss joining forces to acquire Care New England
State OKs $12.2M sale of Meadowlands Hospital Medical Center
UT Health San Antonio, MD Anderson partnership set to take effect in February
