University of Michigan Health will extend further across the state with the acquisition of Lansing-based Sparrow Health, MiBiz reports. The merger would create a $7 billion-health system with more than 200 sites of care.
On Thursday, the University of Michigan board of regents approved the acquisition of Sparrow Health, whose board okayed the deal on Nov. 28. The acquisition should close in the first half of 2023, pending regulatory approval.
The Ann Arbor-based health system said it will inject $800 million into Sparrow, a six-hospital system, through facility projects, operations and strategic investments over eight years.
Acquiring Sparrow Health furthers Ann Arbor-based University of Michigan Health’s strategy to grow across the state. Nearly six years ago, University of Michigan Health acquired the former Metro Health in Grand Rapids, which is now known as University of Michigan Health-West.
University of Michigan Health-West has since expanded several clinical services, including launching open-heart surgery this fall, and formed collaborative care networks for cardiology and oncology with Trinity Health Michigan, the parent organization of Trinity Health Saint Mary’s hospital in Grand Rapids and Trinity Health Muskegon. Read more.
