Mercy Memorial Hospital System to Join ProMedica
Mercy Memorial Hospital System (MMHS), a 238-bed nonprofit hospital company located in Monroe, MI, has signed a letter of intent to join ProMedica, a 12-hospital interstate system based in Toledo, OH. The Board of Trustees of MMHS made the unanimous decision to join ProMedica after a rigorous assessment of strategic alternatives. MMHS will become ProMedica’s third hospital in Michigan.
The Board of MMHS engaged Juniper Advisory to conduct a process to evaluate whether remaining independent best enabled MMHS to thrive. Upon determination by the Board to consider change, Juniper implemented a competitive process to elicit a range of structural options. Juniper designed and managed a comprehensive market-clearing process, drafted information materials, assembled an electronic data room, conducted reverse due diligence and negotiated the agreement between the parties.
Mercy Memorial Hospital System
MMHS is an integrated health care provider located in Monroe, MI that offers a broad range of inpatient and outpatient services. The MMHS network includes Mercy Memorial Hospital, Macomb Pharmacy, the Hospice of Monroe, HomeCare Connection, Home Respiratory Care, the Nursing Center, outpatient rehabilitation, outreach labs and a collection of primary and specialty physician offices. MMHS is the only hospital in the region between Detroit and Toledo and is the largest employer in the area.
ProMedica is a $2.2 billion-revenue, AA-rated interstate nonprofit healthcare organization based in Toledo, OH. ProMedica has more than 15,000 employees and nearly 1,900 physicians with more than 600 healthcare providers employed by ProMedica Physicians. Its 12 hospitals and more than 300 facilities offer comprehensive diagnostic, medical and surgical specialties in heart and vascular, oncology, orthopaedics, neurology, and women and pediatric services, in addition to continuum services such as long-term care, rehabilitation services and Paramount Health Care.
For additional information, please refer to the press release.