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Wednesday, 14 May 2014 06:26

Mercy Health to sell Cadillac, Grayling hospitals to Munson Healthcare

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Mercy Health plans to sell two of its hospitals in northern Michigan to Traverse City-based Munson Healthcare.

Mercy Health and Munson Healthcare said today that they’ve signed a non-binding letter of intent for a deal involving the 97-bed Mercy Hospital Cadillac and 81-bed Mercy Hospital Grayling, plus a long-term care facility in Grayling and a home care service and hospice in Cadillac, Grayling and Houghton Lake.

Owned by Mercy Health’s parent company, Livonia-based CHE Trinity Health, the Cadillac and Grayling hospitals have been affiliated with Munson for 15 years. Munson has managed both for the past 11 years.

“The insights gained by the long-standing partnership between Munson Healthcare, Mercy Hospital Cadillac, and Mercy Hospital Grayling will be put to good use as these hospitals transition into the Munson Healthcare system,” said Roger Spoelman, president and CEO of the West Michigan Region for CHE Trinity Health. “Moving forward, we believe this is the best way to serve the health care needs of these northern Michigan communities.”

Financial terms of the deal were not released.

With the letter of intent signed, executives from CHE Trinity, Munson Healthcare and the two hospitals will now begin due diligence, working on an integration plan and seeking regulatory and corporate approvals.

Munson Healthcare presently owns and operates Munson Medical Center in Traverse City and Paul Oliver Memorial Hospital in Frankfort. The hospitals in Cadillac and Grayling will join the Munson system as affiliates.

Read 3188 times Last modified on Wednesday, 14 May 2014 15:27

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