Corporate News and Events

Trinity Health and Henry Ford announce agreement to explore Henry Ford’s sole ownership of St. Joseph’s Healthcare in Clinton Township

Trinity Health and Henry Ford Health System, which each own 50 percent of St. Joseph’s Healthcare in Clinton Township, announced today that they have entered into a non-binding agreement to develop the sale of Trinity Health’s half-interest to Henry Ford.

As joint-venture partners since 1990, Henry Ford Health System and Trinity Health have collaborated to improve the range of services provided by St. Joseph’s and to continuously examine methods to improve health care delivery.  Both Henry Ford and Trinity Health are not-for-profit health systems with  missions, visions and values that align well with St. Joseph’s long and proud history of serving the community. 

The agreement between the two health care systems provides the structure for an in-depth review of the proposed purchase. The goal is to complete the due diligence during the next few months and, if the decision is made to proceed, to finalize an agreement by early summer.

If the sale is finalized, Henry Ford Health System is committed to continuing St. Joseph’s strong and successful model of care, including its private practice medical staff, leadership team and associates known for their commitment to quality and advanced clinical services.
 
“Both parties in this 17-year joint venture believe the residents of Macomb County would be well served by a single owner that can fully invest resources to build and strengthen this comprehensive regional medical center, expand its services in the community, and strategically position it as a leading health care provider in a growing community,” says Michael Slubowski, president, Hospital and Health Networks, Trinity Health. “We remain fully committed to providing health care services in metro Detroit.” 

Trinity Health currently operates St. Joseph Mercy – Oakland in Pontiac, St. Mary Mercy Hospital in Livonia and the Saint Joseph Mercy Health System, Ann Arbor, Saline and Howell, Mercy Hospital in Port Huron, nursing homes, senior housing and home care.  

Says Nancy Schlichting, president and CEO of Henry Ford Health System, “Henry Ford has been caring for families in this community for decades.  We believe that fully owning St. Joseph’s would allow us to better serve the growing communities of central and northern Macomb County, while strengthening our regional health system.” 

Henry Ford currently operates four medical centers in Macomb County, owns hospitals in Detroit, Wyandotte, Warren and Ferndale, and is building a 300-bed hospital in West Bloomfield.

“Henry Ford is committed to St. Joseph’s future,” said Bob Riney, Henry Ford’s chief operating officer.  “We are excited about investing in new facilities, programs and technology to continue St. Joseph’s premier reputation as the hospital of choice in Macomb County.”

St. Joseph’s, established in 1899 by the Cincinnati-based Sisters of Charity, was acquired in 1990 by Mercy Health Services (now Trinity Health) and Henry Ford Health System in an innovative joint venture.  Although managed by Trinity Health, St. Joseph’s has multiple clinical relationships with Henry Ford, including affiliations with its nationally recognized Heart & Vascular Institute and Josephine Ford Cancer Center.

Further information will be made available once the discussions are completed.

ABOUT ST. JOSEPH’S HEALTHCARE
St. Joseph’s Healthcare is Macomb County's largest, longest-established and most comprehensive health system, with 3,000 associates and more than 700 medical staff members. St. Joseph’s is a 435-bed, multi-site system that includes: St. Joseph's Medical Center in Clinton Township, which provides comprehensive, acute care services; St. Joseph's Specialty Hospital in Mt. Clemens, which provides inpatient, outpatient and emergency psychiatric services; and outpatient centers in Romeo, Chesterfield Township and Fraser.  St. Joseph’s revenues in its fiscal year ending June 30, 2006 totaled $278 million, with net income of $15.6 million.  For more information, visit discovergreatmedicine.com. 

ABOUT HENRY FORD HEALTH SYSTEM
Henry Ford Health System is one of the nation’s leading comprehensive, integrated health systems, with 17,000 employees caring for more than 1 million patients annually with its flagship hospital, education and research center in Detroit; and a network of four community hospitals, 25 medical centers and pharmacies, home care, medical equipment companies, nursing homes, and numerous other related services throughout Southeast Michigan. Henry Ford also owns Health Alliance Plan, serving more than 2,800 employer groups and 560,000 members. Henry Ford’s revenues in 2005 totaled $3.1 billion, with net income of $112 million.  For additional information, visit henryford.com.

ABOUT TRINITY HEALTH
Trinity Health is Michigan’s leading health care provider and one of the state’s largest employers, providing the full continuum of care for Michigan’s residents, with 12 hospitals, 9 nursing homes, 19 senior housing facilities, 8 home health care agencies and 4 hospices serving 35 counties. More than 27,500 associates provide care to one in 11 Michigan residents.   With a national headquarters in Novi, Michigan, Trinity Health is an economic engine for the state with nearly $1.1 billion in payroll – and $1.2 billion in capital investment planned through 2011.  Trinity Health owns or manages 46 hospitals, 379 outpatient facilities, 26 long-term care facilities, and numerous home health offices and hospice programs in eight states and employs over 46,000 nationwide. Trinity Health reported $6.1 billion in unrestricted revenue in fiscal year 2006. For more information, visit trinity-health.org.