Last month, executives at MMC and Spectrum signed a definitive agreement to turn MMC into an affiliate of Spectrum. Under terms of the deal, Spectrum will invest $46 million over 10 years into the 87-bed hospital for upgrades and to help with physician recruitment.
Spectrum, which will be MMC’s sole corporate organization, will also set aside $6 million for community benefit programs in the Ludington community. Other terms of the deal were not disclosed.
More Articles on Hospital Mergers:
Spectrum Health, Memorial Medical Center Finalize Affiliation
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