A federal bankruptcy court last week approved a deal allowing the Flint-based McLaren Health Care Corp. to buy Cheboygan Memorial Hospital, a troubled facility located in northern Michigan.

The price was reportedly $5 million. The double-A rated McLaren will now operate 11 facilities across the state.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.