The pandemic has posed big financial loses for hospitals, which rely on a constant stream of patients to make profits. This has been especially true for Lansing-based Sparrow Health System. They lost $90 million in the first six months of last year.
Earlier this fall, Sparrow announced that due to their own "financial pandemic" they planned to lay off hundreds of workers, despite worker shortages.
Perhaps it comes to no surprise then that Michigan will see yet another hospital merger this year. University of Michigan's Michigan Medicine announced they will be acquiring Sparrow in an $800 million deal. This comes after the mammoth merger in February when Spectrum Health merged with Beaumont Health, which created the largest health system in the state.
We talk about why this merger happened and it what it means for Michigan on the Stateside podcast.
GUEST:
Dustin Walsh, reporter at Crain's Detroit Business
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Music in this episode byBlue Dot Sessions.
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