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Boston Medical Center, Tufts push to complete merger deal this year

Boston Medical Center, the largest safety-net hospital in Massachusetts, and Tufts Medical Center in Boston are involved in merger negotiations and are working to have the deal completed by the end of 2015, according to a Boston Globereport.

In December 2014, BMC and Tufts confirmed they were engaged in merger talks. Although the two organizations haven't finalized a deal, they have agreed to continue merger talks, and executives from both organizations have signed agreements to work out the details of the transaction.

Kate Walsh, CEO of BMC, wrote a note to the organization's employees stating a merger deal with Tufts would allow the two organizations to join to "create a growing, thriving new organization," according to the report.

If BMC and Tufts do reach a deal, their agreement would have to be submitted to the Massachusetts Health Policy Commission — an independent state agency responsible for reducing healthcare cost growth while improving care quality.

This week, Massachusetts Attorney General Maura Healy and House Majority Leader Ron Mariano (D-Quincy) unveiled legislation that would give the state's Health Policy Commission more merger oversight power.

More articles on healthcare industry transactions:

Meridian Health, Raritan Bay finalize merger
10 recent hospital partnerships and transactions
Shares of Ventas spike after announcing $1.75B Ardent deal

 

 

 

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