Under the agreement, Spectrum will relocate its long-term acute care facility to Grand Rapids-based Spectrum Health Hospitals Blodgett Hospital. Officials said they aim to complete the transition by mid-summer, according to the report.
Spectrum will reportedly spend $7.4 million to renovate the sixth floor of the hospital to house the 36-bed long-term acute care facility, according to a letter of intent filed with the state’s department of health and human services.
Select Medical operates 123 long-term acute care and rehabilitation hospitals in 27 states, including 11 in Michigan, according to the report.
More articles on transactions and valuations:
This week’s 3 most-read transactions and valuations stories
Steel of WV files final appeal in Cabell Huntington, St. Mary’s merger
12 recent hospital transactions and partnerships
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.