In a joint statement earlier this week, the health systems said they are still hammering out the details of their affiliation as negotiations move into a fourth month.
“We continue to work closely on very thorough, detailed and important due diligence. While time consuming, this continues to allow for information sharing and a critical exchange of questions and answers that further this process,” the organizations said. “The fact that this effort takes a careful approach, and therefore an extended period of time, should be of no surprise as both parties remain focused and committed to the previously announced affiliation plans.”
A spokesperson for Care New England declined to speculate how much longer it would take the health systems to sign a definitive agreement in an email statement to WPRI-12 News.
Dennis D. Keefe, president and CEO of Care New England, previously said he hoped the organizations could complete the financial and legal due diligence necessary for a definitive agreement within two or three months of the acquisition announcement in April.
More articles on transactions and valuations:
PwC: Healthcare deal volume decreased 18% since Q1 2017
2 LifePoint hospitals to finalize merger by end of week
DuPage Medical Group adds 2 physicians through recent acquisition
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