The affiliation will include telemedicine partnerships, reducing costs and prices by gaining scale, partnering on group purchasing, centralizing business operations and developing population health management strategies. Cooley Dickinson will keep its name, but it will adopt a new logo denoting it is now part of Mass General. Financial details of the deal were not disclosed.
In addition, the transaction allows Cooley Dickinson to remain independently licensed. However, Mass General will appoint up to six trustees on Cooley Dickinson’s board of 28 trustees.
Cooley Dickinson, which had considered seven different hospital partners over a three-year process, and Mass General have worked on the affiliation details since February 2012. This past May, the Massachusetts Public Health Council granted a license to Mass General to acquire Cooley Dickinson, and in June, Partners received approval from the state attorney general’s office to move forward with the transaction.
More Articles on Hospital Transactions:
University Hospitals Pursues Another Merger Partner: Parma Hospital
UPMC Officially Takes Over Altoona Regional Health System
Capella Healthcare, Mercy Health Deal Crumbles
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.