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Tue September 4, 2012
MGH sale transaction finalized
MARQUETTE, MI-- The transaction for Marquette General Hospital to be acquired by Duke LifePoint has been finalized.
Officials made the announcement Tuesday. It makes MGH the fourth hospital to join Duke LifePoint, and the first one in Michigan. State Attorney General Bill Schuette approved the sale last week.
Under terms of the agreement Duke will invest $350 million in capital improvement projects, which—among other proposed projects—could include an outpatient surgery center, comprehensive cancer center, and private patient rooms.
Officials say Marquette General’s pension program has been fully funded and Duke has assumed the hospital’s obligations for all active employees under its contract with the Michigan Nurses Association.