Two Michigan hospital systems say they plan to combine operations in the Detroit metropolitan area and the center of the state. Henry Ford Health and Ascension Michigan said Wednesday they've entered into a joint venture to combine Ascension’s southeast Michigan and Genesys health care facilities and assets with those of Henry Ford Health.
DETROIT — Two Michigan hospital systems plan to combine operations in the Detroit metropolitan area and the center of the state, they announced Wednesday.
Henry Ford Health and Ascension Michigan have entered into a joint venture to combine Ascension’s southeast Michigan and Genesys health care facilities and assets with those of Henry Ford Health, they said in a news release. The combined operations would give the venture nearly 44% of the metro Detroit hospital market by revenue,Eight Ascension hospitals and related care sites and Ascension’s Brighton Center for Recovery addiction treatment center would be renamed under Henry Ford Health.
The combined, Detroit-based organization would have $10.5 billion in operating revenue and be led by Henry Ford Health CEO Bob Riney. A board of directors wth representatives from both hospital groups would oversee operations. The combined health system is expected to employ 50,000 people across more than 550 care sites. The partners are preparing to submit the agreement to state and federal regulatory agencies for review and hope the transaction closes by next summer, they said.
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