As part of the affiliation agreement, Steward will provide Saints Medical Center with $5 million immediately for capital needs and a capital commitment of a $35 million investment over five years, the release said.
According to the release, Saints Medical Center will also retain its acute-care status for a minimum of 10 years, and Steward will maintain all community charity and benefits at their current levels.
Read the news release on Steward Health Care and Saints Medical Center (pdf).
Related Articles on Steward Health Care:
State to Hold Hearing on Steward’s Acquisition of Quincy Medical Center
Steward to Acquire Massachusetts’ Quincy Medical Center
Steward Health to Pay More Than $71M For Rhode Island’s Landmark Medical Center
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