GRAND RAPIDS, Mich. — The Board of Directors of Spectrum Health and Lakeland Health announced today they intend to integrate the two companies.
An agreement will be put together over the next few months and is expected to be finalized by October 1.
“We have a long-standing relationship with Lakeland Health and admire their excellent clinical care, strong leadership team and commitment to the community,” Richard C. Breon, Spectrum Health president & CEO, said in a release. “Our board has spent the past year diligently focused on our growth and partnership strategy in the context of current and anticipated future trends in the industry, such as consumer-centric care and precision medicine. This integration brings benefits to both organizations in terms of improving affordability, quality and access. We are confident that with our aligned cultures and a shared focus on caring for our communities, we can achieve significant impact on health improvement.”
Lakeland Health will proceed as a division of Spectrum Health, retaining oversight by a local board of directors, local capital investment considerations and local philanthropic efforts.
“We are excited about what our two organizations joining together will mean for our community. Lakeland’s number one priority has been to take great care of our friends and neighbors -- the integration with Spectrum Health will provide an unprecedented opportunity to do that even better,” Loren B. Hamel, MD, president and chief executive officer of Lakeland Health, said. “The benefits of integration will be many. We see great value in sharing and standardizing our approaches to continuously improving the health care we provide, to enhancing the overall health of the communities we serve, to lowering the overall cost of care, and to make our organizations the best places to attract the best talent. Spectrum Health’s top tier performance, geographic proximity, and cultural similarity will make this a great partnership.”
Lakeland Health is a comprehensive three-hospital system serving southwestern Michigan with more than 4,000 employees and 450 providers.
Spectrum Health is a West Michigan based, non-profit health system that offers a wide range of care through the Spectrum Health Hospital Group. The group is also West Michigan's largest employer with 26,000 employees.