Mercy Memorial Hospital System Signs Definitive Agreement to Join ProMedica
Closing of Joinder Expected in January, 2015
Monroe, Mich., September 25, 2014 – Mercy Memorial Hospital System (MMHS) has signed a definitive agreement to join ProMedica, culminating with MMHS becoming a member of ProMedica in January, 2015.
“We are pleased that Mercy Memorial will be joining our health system,” says Randy Oostra, President and CEO of ProMedica. “Both organizations have a strong, patient-centered approach to health care and mission-driven cultures. By sharing resources and clinical expertise, as well as broadening the depth and breadth of our services, residents of southeastern Michigan will have exceptional access to a full complement of health, wellness and prevention programs which will be delivered in a more efficient manner.”
“The Mercy Memorial Board of Trustees conducted a comprehensive process to select a partner that was committed to the expansion of healthcare services in Monroe County,” stated Annette S. Phillips, President and CEO of Mercy Memorial Hospital System. “Without question, ProMedica has demonstrated their commitment to all the communities they serve. Joining the ProMedica system will allow Mercy Memorial to maintain local governance and decision making and will ensure access to high quality healthcare in the Monroe communities. We are very excited about our future with ProMedica.”
A key initial step as the two organizations finalize the joinder is the formation an integration steering committee, a strategic planning committee and a facility planning committee. These committees will develop strategies to grow and expand services, facilities and develop the plan for operational integration. The integration plan will be developed within 120 days of closing and implementation will occur over the next several years. The strategic and facility plans will be developed jointly by MMHS and ProMedica after closing, and will align with ProMedica’s three-year, strategic plan.
Prior to closing the transaction, the parties will be completing due diligence and complying with the appropriate regulatory requirements. In the event there are no major issues, Mercy Memorial will become a member of ProMedica as of January 1, 2015.