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Spectrum Health, Pennock Health to affiliate

Hastings, Mich.-based Pennock Health and Grand Rapids, Mich.-based Spectrum Health have signed a letter of intent to affiliate.

The board of trustees of Pennock began seeking formal requests for affiliation proposals last spring, and an affiliation has been part of the system's plan for the last two years.

Pennock chose to partner with Spectrum for a number of reasons, including the ability to provide patients a smooth transition in care, as Spectrum already serves many of Pennock's patients with complex health issues.

Through the affiliation, Pennock is seeking to expand health services and bring additional clinical expertise in its service area, while keeping costs down.

As part of the agreement Spectrum will invest an undisclosed amount in Pennock.

The organizations hope to sign a definitive agreement in the next three to six months.

More articles on healthcare industry transactions:

Prime Healthcare wins Monroe Hospital's bankruptcy auction
Geisinger Health System, Holy Spirit Health System affiliation approved
TriHealth, McCullough-Hyde Memorial Hospital agree to affiliate

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