Spectrum Health and Beaumont Health have signed a formal integration agreement to advance plans for a blockbuster merger, the health systems announced today.
The agreement follows a letter of intent that Spectrum and Beaumont officials announced in June to merge the Grand Rapids- and Southfield-based health systems. State and federal regulatory reviews are also pending. Regulatory approval could lead to the new health system, to be known as BHSH System, being created this fall.
“We have worked together to develop a deeper understanding of each organization. I greatly appreciate the efforts of our teams, and I remain confident that together we will create an optimal health system for Michigan, by Michigan,” Spectrum Health President and CEO Tina Freese Decker said in a statement. Freese Decker is planning to take the president and CEO position for the new company.
“Both Spectrum Health and Beaumont Health have rich histories with compassionate, high-quality and dedicated health care professionals,” she added. “As COVID-19 and the delta variant increase, I am grateful for the care provided to our communities by our team members. I look forward to working with our teams to make health care and coverage more accessible, affordable, equitable and exceptional for Michiganders.”
The integration agreement includes a series of goals and commitments, including improving health equity, enhancing the customer experience, making health care more affordable, and gathering input from physicians and health system staff.
Crain’s Detroit Business reported this week that the U.S. Federal Trade Commission is in the middle of an antitrust review of the proposed merger that includes meeting with large employers and stakeholders who might be opposed to the deal.