The decision to sell SJMPH to Prime Healthcare was made after SJMHS and Trinity engaged in an extensive due diligence process.
Under the agreement, Prime Healthcare has agreed to invest $20 million in capital improvements to SJMPH and its operations over a three-year period.
“We are excited to acquire St. Joseph Mercy Port Huron and look forward to enhancing its services to the Port Huron community,” said Prem Reddy, MD, chairman, president and CEO of Prime Healthcare, in a news release.
The transaction is expected to close after all necessary regulatory approvals have been attained.
This deal is one of several Prime Healthcare has recently entered into. Earlier this week, Franklin, Tenn.-based Community Health Systems signed a definitive agreement to sell DallasRegionalMedicalCenter in Mesquite, Texas and its related outpatient services to Prime Healthcare.
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