NORTH­EAST

Modern Healthcare - - REGIONAL NEWS -

WINCH­ESTER, Mass.— Winch­ester Hos­pi­tal signed a pre­lim­i­nary agree­ment to join a larger sub­ur­ban Bos­ton com­peti­tor, Burlington, Mass.based Lahey Health. The board of the 200-bed hos­pi­tal had been seek­ing a po­ten­tial part­ner since March 2012. Un­der a let­ter of in­tent with Lahey Health, Winch­ester would gain rep­re­sen­ta­tion on the Lahey Health board equal to the or­ga­ni­za­tion’s other two hos­pi­tals, Lahey Hos­pi­tal & Med­i­cal Cen­ter and Bev­erly (Mass.) Hos­pi­tal. Lahey merged with Bev­erly Hos­pi­tal’s par­ent, North­east Health Sys­tem, last year. Dr. Howard Grant would re­main pres­i­dent and CEO of Lahey Health, ac­cord­ing to a news re­lease out­lin­ing the ten­ta­tive deal with Winch­ester. Winch­ester earned $6.1 mil­lion on $310.1 mil­lion in rev­enue in fis­cal 2012, which ended Sept. 30. In a May re­port re­vis­ing its out­look on the hos­pi­tal to pos­i­tive, Fitch Rat­ings praised Winch­ester for its man­age­able debt bur­den, com­ple­tion of ma­jor cap­i­tal projects and a lead­ing mar­ket share in Bos­ton’s af­flu­ent north­west sub­urbs. Fitch noted the in­tense com­pe­ti­tion in the area as a caveat. Winch­ester said con­sol­i­dat­ing with Lahey Health would give its pa­tients ac­cess to the larger or­ga­ni­za­tion’s ter­tiary care, as well as strengthen Winch­ester’s pro­grams in pri­mary care, women’s health, emer­gency medicine and can­cer care.

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