The 179-bed, county-owned Hutcheson will now solicit lease bids from new organizations to manage the hospital.
Both sides declined to say why negotiations failed, according to the report. Hutcheson currently has $56 million in debt and has been trying to restructure its annual debt payments.
More Articles on Hospital Transactions:
Vanguard, Eastern Connecticut Health Network, Yale Sign Initial Merger Deal
Healthcare Sector Shows Strong Transaction Capacity, Report Says
Arise Healthcare Acquires Austin Surgical Hospital
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit