He's even willing to. To support Deadline Detroit's independent journalism, please sign up for a $3a month membership or a one-time donation. I dont see any value in this merger, Freed says of the marriage deal Spectrum and Beaumont jointly announced last week. Spectrum appears to have grown organically, focused on a region it knows well. The FTC decision to implicitly rubber stamp Spectrums takeover underscores the weakness of President Bidens leadership and the little respect he commands, even among his own appointees. For years, former Beaumont CEO John Fox was paid more than $6 million annually because of his supposedly deft fiscal management. In his video, Fox disclosed that none of the monies for the planned expansion are being diverted from funds to deal with Beaumonts chronic staff shortages that have forced the closing of wards because there isnt sufficient medical staff to cover them. Also unavailable for clarifications will be Dawn Geisert, Beaumonts former compliance chief. Beaumont CEO John Fox is headed for the door Friday. Starkman: Electric Vehicles and the Exploitation of Michigan Taxpayers. Freese Decker grabbed the brass ring, but it was badly tarnished. The promised dual headquarters was also BS. Beaumont Health CEO John Fox has no shame. Beaumont CEO John Fox will forever be remembered in the Detroit area as a con man. Spectrum also experienced considerable turnover of Black employees, some of whom considered filing a class action lawsuit . There are no bios or photos of Beaumonts other directors, and thats by intent. Nursing shortages are causing havoc at other Beaumont hospitals as well. BHSHs management team is comprised entirely of Spectrum executives, except Beaumont Royal Oak president Nancy Susick, who has been named interim president of what is being called BHSH Beaumont Health. A Zoom video conference call that was leaked this week among physicians and the marketing director of a North Carolina hospital involved a discussion on how to manipulate Covid patient stats to make them more scary to the public. Henry Ford also said the unvaccinated were exacerbating its staff shortages. Gretchen Whitmer were silent. Fox said Beaumont plans to ask for military assistance to support its other facilities. . The deal, which was announced Thursday, is still subject to various regulatory approvals. Spectrum also is comfortable issuing misleading or deceptive statements, so culturally Beaumont is possibly a great fit. Tina Freese Decker, president and CEO of Spectrum, is chair of the Michigan Health & Hospital Association. By Eric Starkman . Fox cancelled the Advocate Aurora deal a few days later. Fox and Geary have referred to the Spectrum transaction as a merger and a partnership. Fox has disclosed that he will depart once the deal is completed, and Id be surprised if Grant and Jordan plan to stick around. The merger rationale was that hospitals benefitted from getting bigger and achieving economies of scale. Beaumont Royal Oak is a Level I regional hospital, which according to the American Trauma Society means it is required to have 24/7 staffing available to provide total care for every aspect of injury from prevention through rehabilitation. Nessel also has made that claim. September 15, 2020, 9:36 PM . The Detroit Free Press quotedSpectrum's Freese Decker as saying, Today is a historic day. Its one of the rare instances where shes made a statement of undeniable truth. A hospital CEO committed to the best interests of their organization and the communities it services would typically demand a premium of one times the annual revenue, meaning Spectrum should pay nearly $5 billion to take over Beaumont. John Fox, the Atlanta carpetbagger who washed up on the shores of southeastern Michigan seven years ago to bolster Beaumont Healths profits and gussy up Metro Detroits biggest hospital network so that he could sell it, appears hes pulled off what he set out to do. By Eric Starkman John Fox, the Atlanta carpetbagger who washed up on the shores of southeastern Michigan seven years ago to bolster Beaumont Health's profits and gussy up Metro Detroit's. Spectrum no doubt knew that Fox was desperate to unload Beaumont, so Freese Decker had him by the cajones. Beaumont Royal Oak nurses must sometimes tend to as many as seven at a time. Spectrum spokeswoman Ellen Bristol Wednesday morning said she would look into whether a merger was imminent, seeming to indicate Deadline Detroits inquiry was the first shed heard of a potential deal. I can suspect what the problem is but, without transparency, I cant know.. Share. Henry Ford Hospital announced this week that it was closing 120 inpatient beds systemwide due to staffing shortages. I only see the potential for massive financial loss., Freed warns Spectrums directors: When you sign the documents that will permanently change this region, your signature will forever hold you accountable for the repercussions.. Nessels do nothing stance on healthcare matters is in sharp contrast to her Massachusetts counterpart Maura Healey, who has moved to block the expansion of Massachusetts General Brigham on the grounds it will lead to higher health care costs in that state. Not a situation one would expect given that Freese Decker said her biggest priority was building a health system that celebrates and reinforces diversity and inclusion.. June 17, 2021, 9:36 PM . The writer, a Los Angeles freelancer, is a former Detroit News business reporter who . Beaumont employees and vendors are encouraged to reach out, with confidentiality assured. As best I can tell, Freese Decker is genuinely committed to forging relationships with the communities Spectrum serves, unlike Fox and his managers, many of whom dont even live in the Detroit area. Destroying Beaumont and Spectrum Health, Covid Not Responsible for ER Debacles at Beaumont RO and Troy, Sh** Show at Beaumont Endoscopy Suite in Chaos Amid Nursing Shortage, C-Section Horror at Beaumont Lawsuit Claims Surgeon Left Sponge in Patients Abdomen, Former Spectrum CFO Trashes Beaumont Merger and Warns of 'Massive Financial Loss', Beaumont's Merger Partner Reveals its Disingenuous, Deceptive, Disrespectful Nature, Spectrum Healths Black Employees Explore Class Action Lawsuit Alleging Systemic Racism, Beware! Beaumont CEO Fox and COO Wilson Must Go Now! In June of last year Fox announced he planned to merge Beaumont into Advocate Aurora, a Chicago-based hospital network whose CEO was on record as having insatiableambitious plans. Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, AG Dana Nessel and Gov. Starkman: Prominent Beaumont Cardiologist Calls for Ouster of Corporate Leaders, The Beaumont Health Superheroes Who Spoke Truth to Power, The Discredited PR Spin of Beaumont Health CEO John Fox, Beaumont and Advocate Aurora End Merger Discussions, Prominent Beaumont Donor Calls for Firing of CEO John Fox and His Key Executives, Starkman: Why Tree Huggers Must Save This Small Town in Michigan From Ford, 'Detroit In Black And White:' Why We Got Kicked Off 910 AM, Randy Wimbley Leaving Fox 2 After a Decade on the Air. The writer, a Los Angeles freelancer, is a former Detroit News business reporter who blogs atStarkman Approved. Disgruntled Staff. Consultants are part of the . February 02, 2022, 4:58 PM . Freed might want to reach out to Mark Shaevsky, a prominent southeastern Michigan attorney and a former Beaumont board member before it merged with two lesser hospital companies in 2014. It seems unlikely that Beaumont would embark on a major expansion without the input and signoff of Spectrum, which is awaiting regulatory approval to take over the faltering Southfield-based hospital system. Fox said Beaumonts lack of private rooms is a large critical area that has haunted us for decades. He said a comprehensive expansion plan would be finalized by year-end. She bolted last month. It appears that Beaumont Health CEO John Fox won't be bundling his millions and bidding Michigan goodbye as soon as he hoped. Beaumont is awaiting approval to be rescued by Spectrum Health in Grand Rapids. A source told me that Barbee was highly regarded among Spectrums Black employees but was frustrated by his inability to achieve meaningful change. Copyrightdocument.write(new Date().getFullYear());Deadline Detroit, Inc. - All Rights Reserved, Tina Freese Decker, Spectrum president and CEO, a month membership or a one-time donation, Beaumont CEO John Foxs Final FU to Detroit: Merger with Spectrum Health, Beaumont Health Chair John Lewis -- Champion of CEO John Fox -- Stepping Down in June, Beaumont Manager Moved to Sabotage Anesthetists Concerns About Critical Drug Pump Shortage, Beaumonts John Fox Set to Unload Historic Bloomfield Hills Estate, Beaumont Nurse Anesthetists at Royal Oak, Troy and Grosse Pointe Vote Overwhelmingly to Unionize, Beaumont Forces Suspension of Leader of Nurse Anesthetist Union Drive, Andy Levin Goes After Amazon's Union Busting in Alabama, but Silent About Beaumont. Beaumont Dearborn also is receiving military assistance to help the hospital manage its Covid patient load. After she announced the deal, former Spectrum CFO Michael Freed publicly alerted Spectrum's then board the deal could result in a massive financial loss.. Getting more Americans vaccinated is widely believed the ticket to saving lives and preventing hospitals from being overrun with Covid patients at deaths door. The silence is understandable. All of Spectrums top executives are based in Grand Rapids, which is understandable since none of Foxs top lieutenants remained with the company. Beaumont does not have a good reputation regarding how they treat employees. If Michigan had a competent attorney general or a governor with a healthcare interest beyond abortion rights, the deal would have been derailed. Fox, who has already been paid more than $20 million in compensation since joining Beaumont in 2016, potentially stands to earn tens of millions more if regulators approve Spectrums takeover. Also fostering ill will is Beaumonts mandate requiring that all employees be vaccinated or be fired. Beaumont spokesman Mark Geary ignored a request for comment, which he typically does. It marks the passing of a once great hospital system, and the creation of a giant Michigan hospital network Spectrums former CFO Michael Freed has warned could result in a , Spectrum Moves Forward with Beaumont Takeover, Beaumont Expects Imminent FTC Approval For Spectrum Takeover Of Its Faltering Hospital System, Good News From Beaumont Hospital Network To Spend 'Significant Dollars' to Expand Private Room Capacity, Beaumont Foxs Thanks to Hospital Docs: Let Them Eat A Cookie., Beaumont Faces Threat of Nurse Anesthetists Strike Over Declining Patient Safety Standards, Bad News for Beaumont -- CEO John Fox Sticking Around Longer Than Expected, CEO John Foxs Michigan Legacy? And given the sorry state of Beaumont resulting from Foxs leadership, its an emergency rescue. 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