Sale of nonprofit Marquette General Hospital approved by Mich. Attorney General

Published On: Aug 30 2012 08:25:07 PM EDT
MARQUETTE, Mich. -

Michigan Attorney General Bill Schuette says he has approved the $483 million sale of the nonprofit Marquette General Hospital to the for-profit Duke Lifepoint LLC.

Schuette said Thursday that an eight-member team examined the deal.

He says the deal lets the Upper Peninsula hospital pay off $100 million in long-term debts and unfunded pension liabilities.

He says it also provides $23 million for Superior Health Foundation, which is responsible to enforce Duke Lifepoint's promises.

Schuette's office says the deal "provides hundreds of millions for hospital projects over the next 10 years" and "allows the hospital to recruit physicians, preserve core services, and improve quality."

Duke LifePoint Healthcare is a joint venture between the health system at North Carolina's Duke University and Brentwood, Tenn.-based LifePoint Hospitals Inc.

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