It's official:
Marquette General Hospital has now been sold to Duke Lifepoint. The sale was awaiting approval by Michigan Attorney General Bill Schuette, who approved the sale last week.
"After a thorough review by my staff and independent experts, I am pleased to approve the sale of Marquette General Hospital to Duke Lifepoint," says Schuette. "This deal will ensure continued access to quality health care for the people of Marquette."
The attorney general valued the deal at $483 million, including $23 million to the Marquette General Foundation, which will become the Superior Health Foundation. The new foundation will receive reports on hospital operations from Duke for at least the next 10 years.
The deal began working its way through the system in March, as the nonprofit health system and the for-profit Duke Lifepoint negotiated a sale agreement.
Writer: Sam Eggleston
Source: Bill Schuette, State of Michigan
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