Saginaw (Mich.) General Hospital and St. Luke's Hospital in Saginaw reached a final merger agreement last week and are awaiting antitrust clearance and other government approvals.
The hospitals, which began merger talks about three months ago, would control two-thirds of the 803 staffed beds in the city, which has one other acute-care facility, St. Mary's Medical Center. The deal is expected to close by year-end.
Under terms of the agreement, the hospitals will be represented equally on the new corporation's governing board. St. Luke's Chief Executive Officer Spencer Maidlow will be CEO of the combined organization, and Saginaw General CEO William Heath will be chief financial officer.