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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 Duke LifePoint. 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, Chair 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 state-of-the-art 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.