Integrated nonprofit healthcare system Henry Ford Health (Detroit) and Ascension Michigan (Standish, Mich.) have signed an agreement to enter a joint venture that will bring together Ascension’s southeast Michigan and Genesys healthcare facilities and assets with Henry Ford’s.
The combined organization will be branded under the Henry Ford name and headquartered in Detroit.
The deal is expected to close next summer pending federal and state regulatory reviews. The new organization would have more than $10.5 billion in operating revenue and approximately 50,000 employees at more than 550 care sites across the region.
The agreement includes all of Henry Ford’s acute care hospitals in addition to its nonprofit health plan Health Alliance Plan. Ascension’s southeast Michigan and Genesys healthcare assets and subsidiaries, including eight acute care hospitals and one addiction treatment facility, will also be included in the deal.
Ascension’s hospitals in the southwest or northern regions of the state aren’t included in the venture, according to the organizations.
The post Henry Ford Health, Ascension Michigan Announce $10.5B Joint Venture first appeared on HCD Magazine.