A representative for the Michigan Attorney General's office has said there is not a timeline for a decision on Detroit Medical Center's proposed sale to Vanguard Health Systems, according to a Detroit News report.
The two groups hope to close the deal by Oct. 31, but must have Attorney General Mike Cox's approval in order to finalize the acquisition.
The $1.5 billion deal includes a pledge by Vanguard to take on $417 million in DMC debt as well as $850 million in capital improvements, according to the report.
The Attorney General's review is "ongoing," but it remains unclear whether a decision will be rendered by Oct. 31, according to the report.
Read the Detroit News report on Detroit Medical Center.
Read previous coverage on Detroit Medical Center:
- Following Sale to Vanguard, Detroit Medical Center to Kick Off 15 Construction Projects
- Vanguard and Detroit Medical Center Sign Final Agreement
- Detroit City Council Approves Tax Breaks for Vanguard to Rebuild DMC
The two groups hope to close the deal by Oct. 31, but must have Attorney General Mike Cox's approval in order to finalize the acquisition.
The $1.5 billion deal includes a pledge by Vanguard to take on $417 million in DMC debt as well as $850 million in capital improvements, according to the report.
The Attorney General's review is "ongoing," but it remains unclear whether a decision will be rendered by Oct. 31, according to the report.
Read the Detroit News report on Detroit Medical Center.
Read previous coverage on Detroit Medical Center:
- Following Sale to Vanguard, Detroit Medical Center to Kick Off 15 Construction Projects
- Vanguard and Detroit Medical Center Sign Final Agreement
- Detroit City Council Approves Tax Breaks for Vanguard to Rebuild DMC