DMC awards $60M in construction contracts

DETROIT (AP) — The Detroit Medical Center has announced plans for $60 million in construction contracts as part of its sale to Nashville, Tenn.-based Vanguard Health Systems Inc.

Medical Center Chief Executive Mike Duggan told reporters Tuesday that the projects are just the start under the Vanguard partnership.

The contracts are the first of $500 million in construction deals. The Detroit Free Press reports that it’s been about 30 years since the medical center’s midtown campus has seen major upgrades.

A $43 million outpatient pediatric specialty center at Children’s Hospital of Michigan and a $110 million cardiovascular building in midtown are among the projects.

The for-profit Vanguard took over the eight-hospital system Saturday, acquiring substantially all its assets for about $365 million. Vanguard also assumes the health system’s liabilities other than bonds.

Comments

  1. No comments
Sign in to post a comment »