Spectrum Health and Beaumont Health have signed a merger agreement that would combine a health insurance company and 22 hospitals into one tax-exempt system with almost US$13 billion in annual revenue.
Leaders of Beaumont and the Grand Rapids-based Spectrum Health system announced on Thursday, June 17, they have signed a letter of intent to explore creating a new health system. Priority Health, Spectrum’s Michigan-based health insurance plan, would be part of the new entity. It enrolls 1.2 million customers.
The merger would result in a new system temporarily called BHSH System with 22 hospitals, 305 outpatient locations, and 64,000 employees, according to the health systems. The new health system would operate dual headquarters in Grand Rapids and Southfield, with the executive leadership team spending time on both sides of the state, according to the announcement.
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