by Dave Muoio | Jun 17, 2021
Two of Michigan’s largest providers are exploring a potential merger that would yield a 22-hospital nonprofit system staffing more than 64,000 employees.
Spectrum Health and Beaumont Health have signed a letter of intent that places the health systems on track to combine by the fall, the organizations announced Thursday.
In addition to the hospitals, the merged system would also operate 305 outpatient locations and Spectrum’s Priority Health, the third-largest provider-sponsored health plan in the country.
“Beaumont Health and Spectrum Health are leaders in our respective markets and by bringing together our organizations to create a new system, we have the opportunity to deliver greater value in high-quality and affordable health care to our communities,” Spectrum Health president and CEO Tina Freese Decker said in a statement. “Together, we can provide a more personalized experience that prioritizes individuals’ health while also attracting and retaining great talent to our vibrant communities.”
Terms of the deal were not disclosed. The merger plans are subject to regulatory review as well as a final all-clear from both parties.