McLaren Health Care, a 14 hospital system in Grand Blanc, Mich., received approval from the Ohio Attorney General's Office to acquire St. Luke's Hospital in Maumee, Ohio.
Under the deal, McLaren would make significant investments in St. Luke's, including building a cancer center, an orthopedic center and upgrading the hospital's infrastructure.
St. Luke's Hospital has 312 licensed beds, 175 staffed beds and about $200 million in annual revenue.
The organizations expect to finalize the purchase Oct. 1. The definitive agreement was reached on July 3.
Financial terms of the deal were not disclosed.