Physician-owned Doctor's Hospital of Michigan Plans To Restructure or Sell

The physician-owned Doctor's Hospital of Michigan in Pontiac is examining its options to restructure or sell to avoid closure and mass layoffs, according to a Detroit News report.

The hospital is telling employees it doesn't intend to close, despite warning state officials earlier this month that it may shut down or lay off a significant number of its 690 employees as early as Jan. 3 if it can't restructure or sell.

Meetings will be held this week with other hospitals to discuss partnerships, financial help or an acquisition, according to a board member cited in the report. A decision may be reached within the next 10 days.

Sixty percent of the hospital is owned by 42 doctors, while Flint, Mich.-based McLaren Health Care owns 35 percent. The hospital is officially licensed for 351 beds, but is currently operating under a plan and staffing for 100 beds.

Read the Detroit News report on the physician-owned Doctor's Hospital of Michigan.

Read more about physician-owned hospitals:

-Drive to Repeal Health Reform Raises Hopes to End Ban on Physician-Owned Hospitals

-Physician-Owned Hospital in Indiana Sued by Former Owners for Conspiring to Defraud

-Wall Street Journal: Trend of Hospital-Employed Physicians Causing Concerns About Market Leverage


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