Bell Announces Definitive LifePoint Agreement

Filed under: U.P. News Updates |

Great Lakes Radio News UpdateMARQUETTE, MI – (Great Lakes Radio News)The Bell Hospital Board of Directors has signed a definitive agreement to be acquired by LifePoint Hospitals.

In a statement released this morning, Dr. Robert DellAngelo, Chair of the Bell Hospital board, said due diligence conducted since March confirmed a tremendous benefit this acquisition can offer Bell’s employees, physicians, patients and community.

Under the terms of the agreement, LifePoint has committed to providing $5 million in capital investment at Bell over the next decade. Additionally, proceeds from the acquisition transaction will be used to eliminate Bell’s debt. All remaining proceeds – approximately $1 million – will be used to fund a locally-governed charitable foundation to support needs in the community.

As part of LifePoint, the hospital would become a taxpaying organization, providing a source of new tax revenue to support the Ishpeming economy. The agreement is subject to review by the Attorney General of Michigan.

Great Lakes Radio – Delivering reliable and accurate local news to you on air, online and on demand

Share Sunny 101.9 WKQS Content with World!
  • Print
  • Digg
  • StumbleUpon
  • del.icio.us
  • Facebook
  • Yahoo! Buzz
  • Twitter
  • Google Bookmarks
  • Add to favorites
  • BarraPunto
  • Bitacoras.com
  • Fark
  • LinkedIn
  • Live
  • Mixx
  • MySpace
  • PDF
  • Reddit
  • RSS
  • Slashdot
  • Tumblr

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>