Skip to content Skip to navigation

Detroit Medical Center to Join Vanguard

March 22, 2010
by root
| Reprints

The Detroit Medical Center (DMC) Board of Trustees and Nashville, Tenn.’s Vanguard Health Systems Inc. have signed a letter of intent for DMC to become part of the Vanguard system and for Vanguard to invest $850 million in capital improvements to DMC’s eight-hospital system.

According to the organizations, the letter of intent has six major provisions, two of which include:

  • Vanguard will acquire all of the DMC System’s assets (other than donor-restricted assets) for a purchase price that includes approximately $417 million to retire all outstanding DMC bonds and other long-term indebtedness and also requires Vanguard to assume all DMC liabilities (other than such bonds and long-term indebtedness).
  • Vanguard has agreed to spend $850 million in capital investment in DMC over the next five years, more than $800 million in the City of Detroit.

The letter of intent is non-binding and extends through June 1, 2010, at which time the parties are required to have completed a mutually acceptable binding definitive agreement.



OSU Wexner Medical Center Receives AHIMA Grace Award

The Ohio State University Wexner Medical Center (OSUWMC) received the American Health Information Management Association (AHIMA) annual Grace Award in recognition of its leadership in health information management.

Kansas Health Information Network Expands its Network across State Lines

The Kansas Health Information Network (KHIN) has announced that it is expanding its horizons, and is now connected to Health Information Exchange Texas (HIETexas).

CMS Selects Vendor to Modernize Critical Identity Infrastructure

The Centers for Medicare & Medicaid Services (CMS) last week announced it had selected San Francisco-based vendor Okta to enhance the security of its information systems.

Mayo Clinic, ASU Partner for Medical Education, Healthcare Innovation

The Mayo Clinic and Arizona State University have announced a partnership centered on transforming medical education and healthcare in the U.S. through a variety of innovation efforts.

CMS Hospital Compare Website Updated with VA Data

The Centers for Medicare & Medicaid Services (CMS) has announced the inclusion of Veterans Administration (VA) hospital performance data as part of the federal agency’s Hospital Compare website.

CMS Awards Funding to Special Innovation Projects

The Centers for Medicare & Medicaid Services (CMS) has awarded 20, two-year Special Innovation Projects (SIPs) aimed at local efforts to deliver better care at lower cost.