Beaumont Health Spectrum Health System Consolidation

Hawkins served as special transaction and disclosure counsel to the largest nonprofit health system in Michigan — the result of the recent combination of Beaumont Health and Spectrum Health System — in connection with its $891 million inaugural financing. The combined system operates 22 hospitals with more than 5,000 acute care beds, and provides patient care at 300 outpatient locations and several post-acute care facilities.

The 2022 bonds were used to refinance prior-issued debt, with a portion of the new bonds bearing interest at fixed rates and a portion issued in a FRN rate mode.