Bell Hospital Signs Letter of Intent
MARQUETTE, MI – (Great Lakes Radio News) – Bell Hospital in Ishpeming has signed a letter of intent to be acquired by LifePoint Hospitals.
In a statement released this morning, the hospital’s board says they will join with LifePoint to provide additional resources for the hospital to strengthen its operations and enhance the services it offers the community.
According to Bell Board President, Dr. Robert DellAngelo, providing quality healthcare to patients is the top priority at Bell, and the proposed acquisition will provide the additional financial, operational, and clinical support needed to make that happen. The letter is a non-binding agreement that authorizes Bell and LifePoint to move forward in pursuing the proposed acquisition.
The two parties will now enter a due diligence and negotiation process, which is projected to take two to three months. Following this period, a definitive agreement will be reached. The proposed transaction will be subject to review and final approval by Michigan Attorney General Bill Schuette.
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