ISHPEMING, Mich. (AP) — A 25-bed hospital in Michigan's Upper Peninsula has been acquired by a Tennessee company.

Bell Hospital in Ishpeming released a statement Friday, saying it's being sold to LifePoint Hospitals, which has nearly 60 hospitals in 20 states. Bell Chairman Dr. Robert DellAngelo says the deal should improve health care in the Upper Peninsula.

Bell says $1 million will go to a charitable foundation to "support crucial needs in the community." The hospital didn't elaborate.

LifePoint is a publicly traded company based in Brentwood. The sale means the nonprofit hospital will become a private business and pay local taxes.

The hospital is named for the late Francis Bell, who was vice president of Cleveland Cliffs Iron Co. The company opened the hospital in 1918 and owned it until 1952.