Beaumont Health announced Friday, May 29, it has canceled a planned merger with Ohio-based Summa Health, but didn’t explain why.
Under the plan, Summa would have become a subsidiary of Beaumont. The combined organizations would have had US$6.1 billion in total revenue, 45,000 employees, and 12 hospitals.
The organizations had planned to partner for over the past two years and signed a letter of intent in July 2019. They cleared all state and federal regulations, according to Becker’s Hospital Review.
“The organizations are now finalizing details and next steps to end the planned partnership,” the groups said in a joint statement.
“Throughout this process, each of the organizations has continued to operate independently, and each will continue to focus on providing exceptional health care services for their respective markets.
“Both Beaumont Health and Summa Health value the support that each organization has received from their employees, physicians and communities throughout this process and will continue to work to meet their needs moving forward.”
Beaumont is the largest hospital system in Michigan, and Summa is one of the largest integrated health systems in Ohio.
Full Content: Beaumont
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI