Henry Ford Health announced Wednesday that it has signed an agreement to begin a joint venture with healthcare facilities Ascension Michigan and Genesys to create a $10.5 billion health system headquartered in Detroit with 13 acute care hospitals, about 50,000 employees and more than 550 regional healthcare sites.
“Together we can expand health care services and deliver innovations in care — from prevention and early detection to treatment of complex conditions — to more people and communities across our state, including those most at risk,” said Robert Rennie, president and CEO of the Foundation. Henry Ford Health in a statement. “We share an inherent commitment to providing world-class health care that everyone deserves, regardless of geographic, demographic or socioeconomic status.”
The agreement is described as neither a merger nor an acquisition. Instead, Henry Ford Health says it is a joint venture that involves no cash exchange. It must undergo regulatory review, but leaders of Henry Ford Health and Ascension Michigan hope to close the deal by summer.
Rainey will lead the organization, which will remain headquartered in Detroit and carry the Henry Ford Health name and brand. At least for now, the Catholic identity of Ascension Michigan’s facilities will remain.
The following healthcare properties in Southeast Michigan and Genesys in Ascension will be included in the deal:
- Ascension St. John’s Hospital
- Ascension River District Hospital
- Ascension Genesis Hospital
- Ascension Macomb-Oakland Hospital, Madison Heights Campus
- Ascension Macomb-Oakland Hospital, Warren Campus
- Providence Ascension Hospital, Novi Campus
- Ascension Brighton Recovery Centre
- Ascension Providence Hospital, Southfield Campus
- Ascension Hospital Providence Rochester
The following Henry Ford hospitals and other assets, including the Alliance Health Plan, are included in the deal:
- Henry Ford Hospital
- Henry Ford West Bloomfield Hospital
- Henry Ford Wyandotte Hospital
- Henry Ford Kingswood Hospital
- Henry Ford Macomb Hospital
- Henry Ford Jackson Hospital
Ascension Southwestern and North Ascension Hospitals will remain part of Ascension’s national property and will continue to provide Catholic health care:
- Ascension Borges Hospital
- Ascension Burgess Allegan Hospital
- Ascension Borges Lee Hospital
- Ascension Borges Pep Hospital
- Assumption Hospital Saint Joseph
- Ascension St. Mary’s Hospital
- Ascension Standish Hospital
This is a developing story.
Contact Christine Shamus: [email protected]. Follow her on Twitter @kristenshamus.
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