Trinity officials did not say what its plans were for the funds other than their use for “long- and short-term needs,” according to the release.
In October, Trinity and Newton Square, Pa.-based Catholic Health East announced they are exploring a merger. The resulting system would have annual operating revenue around $13.3 billion and net assets of roughly $19.3 billion. Moody’s Investors Service said the potential “mega-merger” could be a net credit positive for the entire non-profit hospital sector.
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