Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

Hartford HealthCare looks to expand footprint in Connecticut

Hartford (Conn.) HealthCare and Charlotte Hungerford Hospital in Torrington, Conn., have taken the first step toward a formal affiliation, but the deal could be stalled by a recent executive order issued by Gov. Dannel P. Malloy.

The Charlotte Hungerford board of governors recently signed a memorandum of understanding to explore joining Hartford HealthCare. The two organizations hope to ink a definitive agreement over the next several months.

"We are eager to move ahead to form a partnership that will support and broaden the extraordinary work of Charlotte Hungerford Hospital," said Hartford HealthCare President and CEO Elliot Joseph.

Although the organizations are excited for the deal to move forward, the transaction could be delayed. On Thursday, Gov. Malloy ordered the state Department of Public Health to push back final decisions on certain hospital deals until Jan. 15, 2017.

The order only applies to transactions that could result in a health system's operating revenue accounting for more than 20 percent of hospital operating revenues in the state, based on fiscal year 2014 numbers. During FY 2014, Hartford HealthCare had $2.5 billion in operating revenues, about 20.3 percent of the statewide total, according to The Connecticut Mirror.

More articles on healthcare industry transactions:

Prime Healthcare pays $25M for Pennsylvania hospital
The rise of 'super regional systems' and what it means for healthcare
5 recent hospital transactions and partnerships

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars