BREAKING NEWS – MGH Sold to Duke LifePoint, LLC.
MARQUETTE, MI – (Great Lakes Radio News) - Michigan Attorney General Bill Schuette has approved the proposed sale of Marquette General Hospital to Duke LifePoint, LLC.
According to a statement from the Attorney General’s office, an eight-person review team examined the proposed sale and Schuette retained an independent expert to value the hospital’s assets and review the sale process.
Before approving, Schuette also required the parties to include additional measures to protect the public interest. With a total value of $483 million, the sale of Marquette General Hospital allows the hospital to pay off its significant liabilities.
It will also provide $23 million to the Marquette General Foundation, which will be renamed the Superior Health Foundation. The Foundation will monitor and enforce Duke LifePoint’s promises.
The sale also provides hundreds of millions for hospital projects over the next ten years including physician recruiting and improving quality.
The Attorney General’s report and other important sale documents are posted on the Attorney General’s website at www.michigan.gov/mgh.
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