Not-for-profit Trin­ity Health signed a deal to ac­quire St. Mary’s Health Sys­tem

Modern Healthcare - - LATE NEWS -

in Water­bury, Conn., adding to the sys­tem’s grow­ing New Eng­land pres­ence. The deal with St. Mary’s ex­pands the 86-hos­pi­tal sys­tem’s ge­o­graphic reach, join­ing the one-hos­pi­tal Sis­ters of Providence health sys­tem in Spring­field, Mass., and the 2014 ac­qui­si­tion of St. Fran­cis Care, a two-hos­pi­tal sys­tem in Hart­ford, Conn. Un­like many health sys­tems that have looked for part­ners or buy­ers, none of the sys­tems in­volved in the deal are in poor fi­nan­cial health, said Christo­pher Dadlez, who will be­come CEO of Trin­ity’s new re­gion. Rather, these sys­tems are look­ing to get rid of re­dun­dan­cies, gain clin­i­cal knowl­edge and at­tain economies of scale. The St. Fran­cis deal is ex­pected to be fi­nal­ized in Oc­to­ber, and the St. Mary’s ac­qui­si­tion is still pend­ing Vat­i­can and state ap­proval.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.