Under the agreement, Portage and LifePoint will jointly own and operated Portage Health and its assets, with LifePoint assuming 80 percent ownership and Portage having 20 percent ownership. The agreement includes $60 million in capital investments over the next decade by the new joint venture. On top of that amount, $40 million will be used to establish a locally governed charitable foundation to fund organizations that meet community needs.
Michigan’s attorney general must review and approve the definitive agreement in order for it to be finalized.
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