Detroit Medical Center formally became a part of Vanguard Health Systems on December 30, 2010, as a for profit corporation. Vanguard has agreed to invest nearly $1.5 B in the Detroit Medical Center complex which will include $417 M to retire debts, at least $350 M in capital expenditures and an additional $500 M for new capital investment. Vanguard has agreed to assume all debts and pension obligations. The metro area has many other hospitals including William Beaumont Hospital, St. Joseph's, and University of Michigan Medical Center.
How much will Vanguard spend to retire debt for DMC?
$417 M