The board of directors for Bell Hospital, located in Ishpeming, Mich., announced they have signed a letter of intent to be acquired by Brentwood, Tenn.-based for-profit chain LifePoint Hospitals.
Bell leaders hired a consultant in October to aid in its hunt for a partner organization.
Once the acquisition is complete, expected within 60 to 90 days, Bell Hospital, a 25-bed critical access hospital, would operate as a for-profit entity and contribute to the local tax base, according to a news release. Michigan's office of the attorney general must also approve the transaction.
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