ROYAL OAK, MI (My TV20 News at 10) --- Leaders of Henry Ford and Beaumont Health Systems gather announce their plans to merge.
Wednesday's announcement at Beaumont's Royal Oak Complex means a potential $6.4 billion new organization.
It would be made up of 10 hospitals, 200 patient care sites, and 38,000 employees among its assets.
The CEO's of the two organizations point out a merger is needed because of universal healthcare mandates.
The new entity will be led by a single board with equal representation from the two systems.
It is unclear who will lead the board.
The two organizations will continue to operate under their current names, for now.
The new board will decide on a new name, and deal with potential job cuts and hospital closings.
Both sides hope to finalize the merger in early 2013.