South Bend, Ind.-based Beacon Health System finalized an agreement to buy Three Rivers (Mich.) Health, a nonprofit community hospital with 60 beds.
Three Rivers Health, which has 550 employees, becomes Beacon Health System's eighth hospital and first inpatient facility in Michigan.
Under the deal, Beacon Health System will invest $20 million in upgrades for Three Rivers Health throughout the next five years.
"After a long process of determining the best route for the future of Three Rivers Health, we could not be more excited to partner with Beacon Health System," said Dave Shannon, president and CEO of Three Rivers Health. "Having the support of a larger health system also allows us to operate more efficiently and will better equip us to serve our patient's needs."