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ProMedica puts Michigan hospital on the market

ProMedica, a 13-hospital system based in Toledo, Ohio, is trying to sell its hospital in Coldwater, Mich., according to The Toledo Blade.

ProMedica said several potential buyers have expressed interest in Coldwater Regional Hospital. The 87-bed hospital is profitable but could benefit from joining a health system closer to it, a ProMedica spokesperson told The Blade. Coldwater Regional is located about 100 miles northwest of Toledo.

"Currently, we are in the process of evaluating possible options to determine which, if any, could best meet the needs of the hospital and community," the ProMedica spokesperson told The Blade. "During this phase, ProMedica will continue to fully support [the hospital], as it continues to deliver clinical excellence and compassionate care in the Coldwater community."

ProMedica acquired Coldwater Regional in 2018 after operating the hospital for two years.

More articles on healthcare industry transactions:
Wyoming Medical Center signs letter of intent with Banner Health
For-profit hospital M&A update: 5 deals involving CHS, Tenet and HCA
Ascension, UAB Health develop 8-hospital alliance

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