Through the partnership, Metro Health’s hospital and its network of physicians, nurses and other providers will combine with U-M Health System.
Metro Health President Michael Fass expressed excitement about the deal. “It is no secret that U-M has some of the best providers in the state and country,” he said. “By joining the ‘leaders and best’ we can build on our existing expertise and provide our patients and community with enhanced access to specialized healthcare services, scientific discovery and advanced technology.”
With the letter of intent signed, both organizations will begin a period of due diligence.
Last year, Metro Health called off an affiliation with Franklin, Tenn.-based Community Health Systems — a deal that had been in the works since 2013. Through the transaction, CHS would have purchased an 80 percent equity interest in Metro Health’s hospital.
More articles on healthcare industry transactions:
HCA buys Dallas hospital
8 recent healthcare transactions and partnerships
AmSurg, Envision Healthcare ink merger: 7 things to know
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