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Michigan Medicine, St. Joseph Mercy announce joint venture

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St. Joseph Mercy Health system — a member of Livonia, Mich.-based Trinity Health — and Michigan Medicine in Ann Arbor will establish a joint venture giving both systems an interest in St. Joseph Mercy Chelsea hospital, according to a Wednesday announcement.

Both parties signed a letter of intent, initiating a due diligence period during which the final details of the joint venture will be established. SJMHS will maintain control of hiring leaders and other hospital operations. The joint venture will build upon previous collaborations between the two healthcare entities.

"The planned joint venture expands upon years of successful collaboration between our two organizations with the inpatient family medicine teaching service and faculty practice on the St. Joseph Mercy Chelsea campus," said Nancy Graebner, president and CEO of SJMC.

Once the joint venture is approved, the agreement will expand the surgical procedures Michigan
Medicine provides at SJMC and increase patient access to Michigan Medicine physicians in the area.

"We are excited to bring our capabilities closer to patients," said David Spahlinger, MD, president of the clinical care unit of Michigan Medicine, regarding the agreement. "We have long cared for patients who live in the greater Chelsea area — but who travel to and from Ann Arbor for their care. With this affiliation, Chelsea-area patients will have expanded care choices closer to home."

More articles on healthcare industry transactions:

PinnacleHealth pursues affiliation with UPMC, inks deal to acquire 4 CHS hospitals
Quorum Health to divest Alabama hospital
3 hidden costs hospitals should consider when acquiring physician practices

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