(COLDWATER) – ProMedica Coldwater Regional Hospital may soon have a new owner.

In a Monday media release, Insight Health System announced they have signed a purchase agreement with Ohio based ProMedica to acquire their Coldwater facility.

Insight, which is headquartered in Flint, is a nonprofit healthcare provider committed to fostering community well being by providing inclusive access to world class compassionate care. With the strategic acquisition of the Coldwater facility, Insight aims to increase its growing presence in Michigan and elevate its clinical competencies in the region.

The transaction is expected to close on or before November 1, 2024. All hospital operations will transfer to Insight upon completion of the transaction.

Following the transaction, Insight plans to keep current hospital President Dan Schwanke and the remainder of the current leadership team intact. Insight and ProMedica leadership teams will establish a joint planning team to ensure a smooth transition for the hospital’s patients, employees, providers and the surrounding community.

Insight Health System currently operates hospitals and other healthcare facilities in Michigan, Ohio, Iowa, New Jersey and Illinois.