Marquette (Mich.) General Health System has announced that it has signed a definitive agreement for Marquette General Hospital to be acquired by Duke LifePoint Healthcare in Brentwood, Tenn.
Funds from the acquisition will be used to eliminate Marquette General's debt and fund its pension program, according to the release. All remaining proceeds will be used to fund a community foundation that will support healthcare organizations and initiatives.
According to the agreement, Duke LifePoint has committed to investing in physician recruitment and capital improvement projects, including a state-of-the-art outpatient surgery center, a comprehensive cancer center, private patient rooms, new technology and IT infrastructure. In addition, Duke LifePoint will offer employment to all current Marquette General employees, according to the release.
The acquisition is pending review by the Attorney General. If approved, Marquette General will be Duke LifePoint's first hospital in Michigan.
Geisinger Health System, Bloomsburg Hospital Transaction Receives Approval
Ascension Health Care Network May Acquire St. Mary's Hospital in N.J.
Funds from the acquisition will be used to eliminate Marquette General's debt and fund its pension program, according to the release. All remaining proceeds will be used to fund a community foundation that will support healthcare organizations and initiatives.
According to the agreement, Duke LifePoint has committed to investing in physician recruitment and capital improvement projects, including a state-of-the-art outpatient surgery center, a comprehensive cancer center, private patient rooms, new technology and IT infrastructure. In addition, Duke LifePoint will offer employment to all current Marquette General employees, according to the release.
The acquisition is pending review by the Attorney General. If approved, Marquette General will be Duke LifePoint's first hospital in Michigan.
More Articles on Hospital Acquisitions:
Mercy, Patients First Health Care Complete MergerGeisinger Health System, Bloomsburg Hospital Transaction Receives Approval
Ascension Health Care Network May Acquire St. Mary's Hospital in N.J.