LANSING, Mich. (WLNS) — Officials from Sparrow Health System and University of Michigan Health held a press conference in Lansing Friday to officially announce U of M’s deal to buy Sparrow.

The two groups first announced the major news Thursday afternoon, which is expected to be completed in the first half of 2023.

The press conference started at 10 a.m. and the list of speakers included Sparrow President and CEO James F. Dover, U of M Health President David Miller, member of the U of M Board of Regents Ron Weiser and more.

Sparrow said Thursday the proposed agreement will ‘expand services to mid-Michigan residents, provide access to the highest level of care, improve facilities and technology, and begin a new chapter in Sparrow’s storied history.’

“The partnership with University of Michigan Health provides Sparrow the opportunity to take a greater leadership role in improving the health of the communities we serve,” said Sparrow Health System President and CEO James F. Dover. 

As part of the deal, U of M Health has committed $800 million in investments to Sparrow Health System over the next eight years, according to a release.