Metro Health (MI) joined the University of Michigan Health System
Ponder & Co. (“Ponder”) is pleased to announce that Metropolitan Hospital Corporation d/b/a Metro Health (“MHC”) has become part of the University of Michigan Health System (“UMHS”). Through the affiliation, MHC and UMHS will enhance services and expand access to care for communities around Grand Rapids and residents and patients across west Michigan. The affiliation enables MHC to further expand its research capabilities, primary care and specialty services, as well as enhance its use of complex medical technology.
Metro Health Corporation
Founded in 1942, MHC represents a multifaceted healthcare system with over 500 physicians on staff and provides a range of diagnostic, medical and surgical services that serves more than 250,000 patients annually across west Michigan. MHC operates a 208-bed general acute-care hospital located in Metro Health Village in Wyoming, Michigan, 11 outpatient centers, a community clinic, an ambulatory surgery center, a cancer center, a student health center at Grand Valley State University, a charitable foundation and several specialty physician practices. MHC’s net revenue was $367.3 million in fiscal year 2016.
University of Michigan Health System
The University of Michigan owns and operates UMHS and is the sole corporate member of UMHS. UMHS is an academic medical center that is a national leader in health care, health care reform, biomedical innovation and education. The health system operates three hospitals, 40 outpatient locations, more than 150 clinics and home care operations that in total serve more than 2.1 million outpatient visits and over 47,000 hospital stays each year.
Ponder’s M&A Group advised MHC on the transaction, managed the strategic partner search process and supported negotiation of the terms and conditions of the affiliation agreement. As part of the agreement, UMHS will become the sole member of MHC and also make a capital investment in MHC to support new strategic initiatives.
Ponder & Co.
Ponder & Co. provides M&A and Capital Advisory services to more than 150 non-profit hospital and healthcare system clients. Ponder has completed more than 100 M&A engagements involving acute and specialty hospitals, senior health and housing facilities, long-term acute care facilities, ambulatory surgery centers and behavioral health facilities. Transactions have ranged from $10 million to $1.5 billion in value.
Ponder’s M&A services include:
- Strategic option assessments
- Partnerships and joint ventures
- Mergers, acquisitions and divestitures
- Business valuations and fairness opinions
- Board and special committee assignments
- Real estate transaction services