The two organizations have worked together unofficially since 2009. The University of Michigan Health System filed a letter of intent to acquire Metro Health Monday.
The financial terms of the agreement, if any, have not been disclosed.
“This is a transformational day for healthcare in west Michigan,” said Michael Faas, president and CEO of Metro Health. “Our affiliation with the University of Michigan will help ensure our patients and the people of west Michigan continue to have access to great quality care and choice when they consider their health care needs. U-M and Metro Health doctors will work alongside each other to provide the latest, most advanced and most innovative care to patients.”
More articles on transactions and valuations:
11 healthcare transactions in 2016 with $600M+ price tags
Keokuk Health Systems, UnityPoint Health to formalize affiliation
University of Miami Health System to manage, provide services at 17 Walgreens clinics
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.