Executives at Memorial Medical Center in Ludington, Mich., and Spectrum Health in Grand Rapids, Mich., have signed a definitive agreement that will turn MMC into an affiliate of Spectrum.
Effective Oct. 1, MMC will become Spectrum Health Ludington Hospital. Under terms of the deal, Spectrum will invest $46 million over 10 years into the 87-bed hospital for upgrades and to help with physician recruitment. Spectrum, which will be MMC's sole corporate organization, will also set aside $6 million for community benefit programs in the Ludington community. Other terms of the deal were not disclosed.
"Joining Spectrum Health creates the best possible healthcare scenario for the people we serve," MMC President and CEO Mark Vipperman said in a news release. "With improved access to specialty care, assistance with physician recruitment, best practices in clinical quality and a willingness to make significant healthcare investments, the healthcare needs of the people in this part of west Michigan will be well-served for the foreseeable future."
MMC will become the 11th hospital within Spectrum's system. Spectrum and MMC signed a nonbinding letter of intent in May. MMC ultimately chose Spectrum as a partner after the hospital drew interest from more than two dozen hospitals and health systems.
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