Michigan Attorney General Bill Schuette has given the nod to Duke LifePoint's proposed acquisition of Marquette General Health System, subject to a few conditions. One of those was adding $8 million to the payments the joint venture will make to a community foundation, a extra spoonful that takes the acquisition's price tag to $483 million, or about 90 percent of 2010 revenues.
SEE ALSO: Duke LifePoint JV inks Michigan deal
A Michigan-based placement and recruiting firm with offices in nine other states has set up shop in Maryland Farms with plans to service employers in the automotive, manufacturing, engineering and logistics sectors. Among the people who have come on board at the Boardroom facility on Maryland Way is Lorie Shauntée, who spent 11 years on the business development team at the Tennessee Department of Economic and Community Development. Said President and founding principal Larry Malace:
"With our extensive expertise in this arena, we believe that we can make a significant contribution to the community by helping bring jobs to Tennesseans, as well as filling the positions available in the industries housed in this region with highly qualified and well-trained personnel. We are eager to become responsible corporate citizens, assisting in appropriate ways to make Tennessee a better place to work and live."
Detroit-based FutureNet Group has completed its acquisition of Smith & Wesson Security Solutions, the former Universal Safety Response. The roughly $10 million deal announced last month will bring some job security and growth prospects to 80 people in Cool Springs.
“This is a big opportunity for a small business to continue serving our Federal Government and commercial clients by manufacturing U.S. products for domestic and international use,” said Perry Mehta, President and CEO, FutureNet Group. FNSS’s marketing strategy consists of “Protecting Infrastructure Globally.” The GRAB® net barrier system, XMB®, ODDS®, SW1900, and a range of other proprietary perimeter security products will continue to be marketed by FNSS.
Officials at LifePoint Hospitals, Duke University and the Marquette General Health System in Michigan's Upper Peninsula have ironed out the terms of an acquisition agreement that will add a fifth facility to the 18-month-old Duke LifePoint. As is the case with many hospital purchases, the buyers have committed to adding or upgrading facilities and the technology infrastructure at 290-bed Marquette General.
SEE ALSO: Duke LifePoint JV inks Michigan deal from March
Vanguard Health Systems has named Joe Mullany president of its Detroit Medical Center complex. Mullany had overseen Vanguard's New England hospitals since he joined the company from Essent Healthcare in 2005. He will now be the company's No. 2 in the Motor City and brings to the job a lot of experience working in the post-reform Massachusetts hospital sector.
"When DMC was named one of the country's 32 Pioneer ACOs (accountable care organizations), I began to realize how fast the Vanguard/DMC team is building one of the great academic medical centers in America," Mullany said in a statement. "It's an exciting time to be at DMC."
POSTDATA: WARRANTY DEEDS