According to the agreement, Prospect will maintain a three-year license to operate 393 hospital beds at Waterbury Hospital and committed to spend $55 million for the development and improvement of the hospital over a seven-year period.
The financial terms of the transaction have yet to be disclosed.
Prospect also owns hospitals in California, New Jersey, Pennsylvania, Rhode Island and Texas.
More articles on transactions and valuations:
Chinese billionaire claims he does not want to control CHS
Mid Dakota Clinic may move forward on Sanford Health merger
Clinch Valley Medical Center named Duke LifePoint quality affiliate
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.
