Beaumont CEO John Fox's Final FU To Detroit: Merger With Spectrum Health
Beaumont Health CEO John Fox, the Atlanta carpetbagger who destroyed the company’s flagship Royal Oak hospital while pocketing more than $20 million for himself, appears close to pulling off what he set out to do from the moment he arrived in Metro Detroit six years ago: Merging southeastern Michigan’s biggest hospital network out of existence.
Beaumont has signed a letter of intent to merge with Spectrum Health, a Grand Rapids-based hospital network focused on Western Michigan, the company announced internally Wednesday. The deal, which was announced Thursday, is still subject to various regulatory approvals.
Spectrum CEO Tina Freese Decker will lead the combined company.
I expect Fox to promote the deal as “a merger of equals” and it’s possible the Beaumont name could be retained in some capacity, but don’t be fooled: The combination is Fox’s Hail Mary attempt to cash out and distract from the extensive damage his leadership has caused.
Read more: https://www.deadlinedetroit.com/articles/28213/starkman_beaumont_ceo_john_fox_s_final_fu_to_detroit_merger_with_spectrum_health
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