After a shaky financial year, Ascension Michigan will invest $50 million to upgrade three of its hospitals in the state, according to a MLive report.
Here are five things to know.
1. Ascension Michigan, part of St. Louis-based Ascension, will upgrade St. Mary's of Michigan in Saginaw, Mich., St. Mary's of Michigan in Standish, Mich. and St. Joseph Health System in Tawas City, Mich.
2. The largest portion of the investment will go toward Ascension's hospital in Saginaw, which will see an updated emergency department and improvements to various clinical programs.
3. In fiscal year 2017, St. Mary’s of Michigan in Saginaw reported a $21.3 million loss, and St. Joseph's reported a $162,000 loss. After the lackluster financial year, Ascension Michigan laid off 500 employees.
4. Ascension Michigan officials determined the best way to prevent long-term losses would be to invest more into the hospitals. Joseph Cacchione, MD, interim ministry market executive of Ascension Michigan and president of Ascension Medical Group, said the investment in clinical programs could add jobs to the hospitals.
"At the minimum, we're expecting preservation of the current workforce, and as programs expand, we could see some expansion of medical jobs," he told MLive.
5. Another big change is updated branding, which could include a new name for the hospital in Saginaw.