MARQUETTE — The Marquette General Health System Board of Trustees and Duke LifePoint Healthcare today announced they have finalized the transaction for Marquette General to be acquired by North Carolina-based Duke LifePoint.
The parties said the acquisition will strengthen Marquette General for the future, provide resources for it to enhance and expand the services it offers, and help improve healthcare across Michigan’s Upper Peninsula.
“Our top priority in selecting a strategic partner for Marquette General was to find an organization that shared our long-term commitment to advancing healthcare throughout the U.P.,” said Brad Cory, chairman of the Marquette General Health System Board of Trustees. “Duke LifePoint is the ideal partner for us. It provides advances in quality, and resources and support that will help us enhance healthcare delivery in our communities and strengthen Marquette General for the future.”
Under the terms of the agreement, Duke LifePoint will invest $350 million in capital improvement projects and physician recruitment over the next 10 years. Proposed capital improvement projects include a new outpatient surgery center, comprehensive cancer center, private patient rooms, new technology and new IT infrastructure. Duke LifePoint also has provided funding for Marquette General’s charitable foundation, which will be used to improve healthcare in the greater Marquette community and underserved areas of the Upper Peninsula.
“This acquisition is an exciting milestone for Marquette General’s staff, physicians, patients and communities,” said Gary Muller, President and CEO of Marquette General. “As part of Duke LifePoint, we will gain access to clinical and operational resources that will help our hospital thrive in the changing healthcare environment. We look forward to working with the Duke LifePoint team to find ways to expand our services, support our U.P. partners and better serve our communities.”
As part of the acquisition, Marquette General’s pension program has been fully funded and Duke LifePoint has assumed the hospital’s obligations for all active employees under its contract with the Michigan Nurses Association. Duke LifePoint also will continue relationships Marquette General has established with organizations including Northern Michigan University, Superior Health Partners and Michigan State University.
“Marquette General has been a vital part of the healthcare infrastructure across the Upper Peninsula for more than 50 years,” said LifePoint chairman and CEO William F. Carpenter III. “We are proud to welcome Marquette General to Duke LifePoint, and we are excited about the opportunity to work together to enhance healthcare in the U.P. and make this region healthier for generations to come.”
Marquette General is the fourth hospital to join Duke LifePoint and is the first hospital in Michigan. Other Duke LifePoint hospitals are Maria Parham Medical Center in Henderson, N.C.; Person Memorial Hospital in Roxboro, N.C.; and Twin County Regional Healthcare in Galax, Va. Duke LifePoint also operates DLP Cardiac Partners.
“We began Duke LifePoint with a vision of partnering with community hospitals to transform healthcare delivery,” said William J. Fulkerson Jr., M.D., executive vice president of Duke University Health System. “Our relationship with Marquette General, our first hospital in Michigan, can meaningfully impact quality care in the Upper Peninsula and beyond.”
The transaction was reviewed and approved by Michigan Attorney General Bill Schuette. Additional information regarding the transaction and the Attorney General review can be found at www.michigan.gov/ag/.
Marquette General Hospital is a federally designated Regional Referral Center and a member of Superior Health Partners. It is the Upper Peninsula region’s Level II Trauma Center and a Thomson Reuters Top 50 Cardiovascular Hospital. Marquette General receives patients from throughout Upper Michigan and provides care in 65 specialties and subspecialties. Its medical staff of more than 200 doctors works as a team with our 2,400 employees in caring for approximately 12,000 inpatients and more than 350,000 outpatients a year.
More at www.mgh.org.
Duke LifePoint Healthcare, a joint venture of Duke University Health System, Inc. and LifePoint Hospitals (NASDAQ: LPNT), was established to build a dynamic network of hospitals and healthcare providers. The joint venture, which brings together LifePoint’s experience in community-based hospital management and Duke’s world-renowned leadership in clinical service, is strengthening and improving healthcare delivery by providing community hospitals the clinical, quality and operational resources they need to grow and prosper. For additional information, visit www.dukelifepointhealthcare.com.