University of Michigan Health has formally acquired Lansing-based Sparrow Health System, the latest major hospital consolidation deal in Michigan.
Under the deal, U-M becomes the sole corporate owner of the enlarged health system, Bridge Michigan reports.
In return, the Ann Arbor-based research and academic powerhouse will invest $800 million in Sparrow, which operates 115 sites — from its flagship E.W. Sparrow Hospital in Lansing and the adjoining, long-term, acute-care Sparrow Speciality Hospital, community hospitals in Carson City, Charlotte, Ionia and St. Johns and smaller doctor’s offices. Read more.
