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ProMedica Adds Memorial Hospital

Effective last week, Memorial Hospital in Fremont, Ohio, became an affiliate with Toledo, Ohio-based ProMedica.

ProMedicaMemorialHospitalProMedica now has 12 hospitals within the system. The 186-bed Memorial Hospital also includes an ambulatory surgery center.

Financial terms of the deal were not disclosed. ProMedica President and CEO Randy Oostra said the deal will "help facilitate collaborative endeavors to better address critical health and social needs throughout the community." Service line and clinical integration will be the primary areas of focus this year, the organizations said.

Memorial Hospital signed a management agreement with ProMedica in December 2012. Under that deal, the hospital leased ProMedica executives Pam Jensen and Dan Brewer as CEO and CFO, respectively, until a definitive affiliation agreement was reached.

This past August, ProMedica signed a memorandum of understanding to form an affiliation with Cleveland Clinic. That transaction was not a full-scale merger, but both parties are reportedly laying the groundwork for "further integration in the future."

More Articles on Hospital Transactions:
Chilton Hospital Merges With Atlantic Health System
UnityPoint, Meriter Complete Affiliation
Passavant Area Hospital to Join Memorial Health System

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