M&A Roundup: In MI, a $6.4B Merger
If the deal passes due diligence and state review, the two not-for-profit systems would combine 10 hospitals, two medical schools, and 200 other patient care sites. The health systems are in exclusive negotiations and a definitive agreement for the new, not-for-profit organization is expected to be completed in the first half of 2013.
Nancy Schlichting, CEO of Detroit-based Henry Ford, called Beaumont "the absolute ideal partner for us."
"We have a common vision for the future of healthcare," Schlichting said at the teleconference. "Patients and their families are the center of our universe. We are national leaders in quality and patient safety. … We like the fact that this is a pure Michigan organization that is going to improve the health of Michiganders and be a role model for the country."
Michalski said the merger talks reflect the "monumental shift" from inpatient care to outpatient care."
"Also there is a growing importance of transforming our organizations from providing sick care to taking care of populations and helping people stay out of hospitals," he said. "The need for strong partnerships has never been greater in our view and even strong industry leading health systems like ours are responding to these challenges by forming very creative relationships with like-minded peers."
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