Mike Cox Attorney General
Mike Cox Attorney General Report on the Proposed Sale of the Detroit Medical Center Hospital Businesses to Vanguard Health Systems, Inc. November 13, 2010 EXHIBITS Exhibit 1 Amendment No. 2 to Purchase and Sale Agreement Exhibit 2 Enforcement Agreement between the Attorney General, DMC, Legacy DMC, Buyer, and Vanguard Exhibit 3 Monitoring and Compliance Agreement between the Attorney General, DMC, Legacy DMC, Buyer, and Vanguard Exhibit 4 Protection of Charitable Assets Agreement between the Attorney General and Legacy DMC Exhibit 5 AlixPartners, LLP Report November 11, 2010 November 11, 2010 Tracy Sonneborn, Esq. Assistant Attorney General Michigan Attorney General Consumer Protection Division and Charitable Trust Section P.O. Box 30213 Lansing, MI 48909 Dear Mr. Sonneborn: Healthcare Valuation and Financial Advisory Services in Connection with the Proposed Sale of the Detroit Medical Center This report presents our conclusions with respect to our assistance to the Michigan Office of the Attorney General (the “AG”) in connection with your review of the proposed sale of the Detroit Medical Center (“DMC” or the “System”) to Vanguard Health Systems, Inc. and its affiliates (“VHS”) (hereafter referred to as the “Proposed Transaction”). ALIXPARTNERS QUALIFICATIONS We have more than 25 years of healthcare valuation experience including significant experience valuing hospitals and hospital systems for a variety of purposes. We have significant experience with respect to providing reviews of transactions involving the conversion of not-for-profit hospitals, managed care and other health care entities on behalf of a number of states Attorneys General. We have reviewed the specific terms of these transactions and have also analyzed the financial condition of the parties involved.
[Show full text]