Wyoming, Mich.-based Metro Health is seeking a strategic partner for a merger to help navigate changes in the health care industry.
The provider is looking at a variety of partnerships, including acquisition or joint venture, and will be looking at three to four partners over the next few months, according to a local report.
Officials said the Affordable Care Act is going to make size a key competitive advantage, according to the Grand Rapids Business Journal. A series of mergers and acquisitions have swept over the non-profit health care sector over the last few years.
“The changing health care landscape, accelerated by the federal government’s Affordable Care Act, has presented numerous opportunities for growth for Metro Health,” officials said in a statement released last week. “Additional capital will assist Metro Health in seizing these opportunities.”
Metro Health is located outside Grand Rapids in Kent County. It issued $135 million of debt in 2005 to finance construction of a new hospital.
“Our cash position is the best it’s been in years and our partnership with other health care institutions have proven to be beneficial endeavors,” Doyle Hayes, Metro Health Corp’s chairman said.