MARQUETTE, MI-- Dickinson County Healthcare System has signed a letter of intent with Upper Peninsula Health System.
The hospitals are beginning a formal process to evaluate the possibility of DCHS becoming part of UPHS. The organizations have signed a non-binding agreement that initiates a due diligence process to ensure the acquisition is in the best interests of both hospitals.
An asset purchase agreement between DCHS and Bellin Health was terminated in May. Dickinson county officials say significant unpredicted losses drove up the purchase price of the hospital.
Due diligence will take a minimum of 60 to 90 days. If officials determine the acquisition should move forward, DCHS and UPHS will begin to negotiate the terms of a definitive agreement.
