Detroit Medical Center announces potential sale to Tenn.-based Vanguard Health Systems
By APFriday, March 19, 2010
DMC: Potential sale to Vanguard Health Systems
DETROIT — The Detroit Medical Center has signed a letter of intent that opens the door for it to be purchased by a private Nashville, Tenn.-based health system.
DMC announced the deal with Vanguard Health Systems in a statement Friday morning. Terms of the deal include Vanguard agreeing to make $850 million in capital improvements over the next five years.
A Friday morning news conference has been scheduled at the Children’s Hospital of Michigan.
The DMC operates eight hospitals and is affiliated with the Wayne State University School of Medicine and the Barbara Ann Karmanos Cancer Institute.
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