St. Francis Hospital and Medical Center parent St. Francis Care Inc. has received regulatory approval from the state and the Vatican to merge with a Michigan health system.
The Office of Health Care Access has approved St. Francis Care’s application to join Trinity Health, according to St. Francis spokeswoman Fiona Phelan. The merger will lead to the creation of a new regional health system that includes St. Francis Hospital and Medical Center and Mount Sinai Rehabilitation Hospital.
St. Francis Care, which employs more than 5,000 people, said it hopes to close the deal by early fall.
Trinity has agreed to commit $275 million in capital over five years for infrastructure development, new health services lines, mergers and acquisitions, and doctor recruitment.
Trinity has also agreed to help St. Francis restructure its long-term debt, pay down its pension liability, and complete a conversion of its electronic medical record system.
