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Spectrum Health finalizes merger agreement with Ludington hospital

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The Spectrum Health System Board of Directors and the Memorial Medical Center (MMC) Board of Directors have each approved resolutions that would integrate MMC into Spectrum Health. Based on the resolutions, MMC will become Spectrum Health Ludington Hospital, effective October 1, 2013, pending execution of final legal documents. “Spectrum Health has had an excellent working relationship with Memorial Medical Center for many years,” said Richard C. Breon, President & CEO, Spectrum Health. “This agreement allows us to build on that relationship and provide a broader, more coordinated array of services to the region.” Breon added that the agreement between MMC and Spectrum Health is an investment in providing the best possible health care to the community for years to come. As part of the affiliation agreement, Spectrum Health will provide $6 million for health care initiatives to benefit the Ludington community and the hospital. In addition, Spectrum Health is making a capital commitment of $46 million over 10 years to MMC for upgrades and to assist in physician recruitment. MMC’s President and CEO, Mark Vipperman, said, “Joining Spectrum Health creates the best possible health care scenario for the people we serve. With improved access to specialty care, assistance with physician recruitment, best practices in clinical quality and a willingness to make significant health care investments, the health care needs of the people in this part of West Michigan will be well-served for the foreseeable future.” “The board is both pleased and excited that we were able to get this done. As the future of health care in our country and the future needs of our community became clear to us, we knew we needed to take the sort of action that would serve our constituents’ best interests in the long term,” said Al Deering, chair of MMC’s Board of Directors. “We think we’ve done that by deciding to join Spectrum Health. We admire the people of Spectrum Health and their pursuit of excellence. The Spectrum Health mission focus made us believe that we are culturally well-aligned. We will still have local control over our day-to-day operations, meaning that the work we’ve been doing in the community will not only be supported, but encouraged. Spectrum Health’s willingness to provide $6 million to the MMC Foundation for health care initiatives to benefit the Ludington community illustrates this fact.” Under the terms of the affiliation, Spectrum Health will become the sole corporate member of MMC. Memorial Medical Center is an 87-bed acute care hospital with 575 employees located in Ludington, Michigan. The hospital recently opened a major expansion, including an all-new emergency department, expanded surgery department, and new main entrance and lobby. Spectrum Health is a not-for-profit health system, based in West Michigan, offering a full continuum of care through the Spectrum Health Hospital Group, which is comprised of 10 hospitals including Helen DeVos Children’s Hospital; 130 ambulatory and service sites; 975 advanced practice providers and employed physicians including members of the Spectrum Health Medical Group and West Michigan Heart physician groups; and Priority Health, a health plan. Spectrum Health is West Michigan’s largest employer with 20,000 employees. The organization provided $204 million in community benefit during its 2012 fiscal year. http://www.mmcwm.com/News/SpectrumHealthLudingtonHospital Project Name Spectrum Health finalizes merger agreement with Ludington hospital Location Ludington, MI , USA Commence 2013 Completion -NA- Estimated Investment $204 million USD Capacity -NA- Key Players The Spectrum Health System

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