The health system also sought and received a waiver for a certificate of need review of the transactions, according to the article. With the waiver, it is no longer necessary for the state to conduct a review of the deals once the health system receives the certificate of need.
According to the letters of intent, the health system will assume full control of Metro Health and its subsidiaries, including Wyoming, Mich.-based Metro Health Hospital, the Wyoming-based West Michigan Radiation Oncology Center and the Grand Rapids, Mich.-based Metro Health Outpatient Surgery Center.
The letters of intent did not disclose any financial agreements made between the organizations relating to the transactions.
The organizations signed a letter of intent to partner in June and signed a definitive merger agreement in September.
More articles on transactions and valuations:
This week’s 3 most-read transactions and valuations stories
16 recent hospital transactions and partnerships
Medtronic to help manage UH Cleveland Medical Center’s labs
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.