Spectrum Health to partner with Select Medical on unnamed venture

Grand Rapids, Mich.-based Spectrum Health inked a deal to create a joint venture with Mechanicsburg, Pa.-based Select Medical, according to MiBiz.

Advertisement

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

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Transactions & Valuation Issues

Advertisement

Comments are closed.