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Ascension inks agreement to sell Connecticut hospital

Hartford (Conn.) HealthCare signed a definitive agreement to acquire St. Vincent's Medical Center in Bridgeport, Conn., the organizations announced Oct. 1.

Under the agreement, Hartford HealthCare will acquire St. Vincent's Medical Center, which comprises a 473-bed community teaching hospital, a 76-bed inpatient psychiatric facility, a multispecialty provider group and the hospital's special needs services.

St. Vincent's, which is part of St. Louis-based Ascension, will maintain its Catholic tradition as part of Hartford HealthCare.

"Hartford HealthCare and St. Vincent's share many attributes," Elliot Joseph, CEO of Hartford HealthCare, said in a news release. "Our two organizations have deep roots in Connecticut. We both are committed to providing excellent, compassionate care and to creating healthier communities. We are proud of the work the people of St. Vincent's have done so well across Fairfield County and beyond. Hartford HealthCare would be privileged to work with the St. Vincent's team to enhance access to exceptional, personalized, coordinated care."

Ascension and Hartford HealthCare signed a letter of intent for the acquisition in March.

To learn more, click here.

More articles on transactions and valuations:
Baylor, Memorial Hermann to form 68-hospital system
Yale New Haven Health to add 6th hospital
Partners-Care New England merger granted expedited review

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